Yesterday I said that we had 3 possibilities and now we are down to two. Overnight we fell through the first support of $183.00 definitely giving in to the bears. Volume
is beginning to slow and RSI
is showing that we are definitely in oversold territory. At this point, I am watching for the bulls to step back in and keep this above the next support of $144 and push for a bounce with increased volume
between today and tomorrow. One caution is that there are still a lot of people out there who are still holding Charlie Lee responsible for the negative downturn in LTC that began when he sold off and/or donated his coins to the Litecoin Foundation. While this coin is poised better than most for mass adoption, it is time for it to stand on its own and for the bulls to take the attention off its creator. If they don't and we fall below that $144 support, anyone's guess is as good as mine what is in store for LTC without some positive news.