I see a lot of bullish talk about litecoin, lets take a look.
We can see that the MACD is starting to give the buy signal on the one day chart, while this is bullish, true, we are also in a very well defined downtrend channel which will require some volume to break out of.
While a lot of people are rushing into LTC, I think it is safe bet to assume that LTC will tag along with BTC for the ride. Just make sure you know how to HODL and show the Litecoin community some love, they deserve it.
The bulls need to push prices above $165 to get me more interested in the market.
The bottom target of the channel, is the $40 – $70 ranges. this will be my longer term buying zone should LTC fail to clear the channel.