Litecoin has sold off to an extreme, falling to support at $120, where we told you it would find support. This is the last level we have on our chart, which shows you how long it has been since LTC tested these levels. Using inverse Fibonacci levels, we can project the next level of support below to be $111, which will be the last level before $100, a significant psychological and technical level for Litecoin. From above, we must first contend with $134, and several levels after that before we can consider $200 again which seems prohibitively far away at this point. The Kovach OBV is extremely bearish to the extent where we are oversold and due for a relief rally even if it is just a pull back into the bear trend.
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