Litecoin was almost on the road to recovery before the bears started clawing at it from about $180, earlier this month.
The market is currently experiencing a very strong bearish trend and the previous support levels, $130, $110 and $100 could very well get tested this weekend. Should we fail to consolidate above our previous support of $140, we will most likely see lower prices as the market continues its correction.
I am quite bearish on the Litecoin market, with many H&S patterns, big and small, gracing the 4hr candles. This pattern usually shows bearish market action as the indicators are confirming, for the time being. I would get bullish on litecoin should the bulls recapture the $140 level with conviction.
Until then I guess we will be drinking Litecoin Bull tears. Safe trades!