So looking at the Litecoin chart I am also bearish in the short-term (weeks to months). Litecoin is forming a descending triangle with a base at about $110 which has held several times. There is also pretty strong support around the $100 level. The descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern which would mean further downside for Litecoin. Actually, as I am writing this the price has dropped below the
$110 level so we will have to see if it can regain the $110 level or if this is the start of a larger drop to the $100 level or even lower.
Besides at the $100 level I see a support zone around $80 but if that does not hold I could see the price dropping to the $40 to $60 level. As I have said I will be watching closely for trading opportunities and also for opportunities to
add to my long-term Litecoin holdings at discounted prices.
$110 level so we will have to see if it can regain the $110 level or if this is the start of a larger drop to the $100 level or even lower.
Besides at the $100 level I see a support zone around $80 but if that does not hold I could see the price dropping to the $40 to $60 level. As I have said I will be watching closely for trading opportunities and also for opportunities to
add to my long-term Litecoin holdings at discounted prices.