Lets have a look at the longer term view on the Litecoin USD market.
A lot of Litcoin speculators had the rug pulled out from under them when support broke at $240.
The market did a nice free fall before the bulls stepped in (temporarily) around $130 and pushed us into the $180 zone where a lot of believers are regaining some hope for a recovery.
It does look like there might be hope, but it might not be immediate. I see trading action between $150 and $200 while the market corrects from this drop.
There could be a few nice plays for those that place their buy orders down into the 130 – 160 zone, with the possibility of some quick profits at 170 -200.
Being Bitcoins little brother you can look to Bitcoin to see what LTC might do in the near future. Safe trades.
Please feel free to discuss these trade ideas with us in Discord.