Litecoin New Relative Lows

LTC continues to be hit hard by the fallout, plunging into the $200 handle, and heading further. As we predicted in the last newsletter, we are getting some support from a nested Fibonacci level at $162.65, but if recent events are a predictor of the future, then we will need the next one at $117.22. We have had to redefine our Elliott Wave to include this segment of fallout as the corrective phase of the 5-3 Elliott Impulse wave, which now appears to have begun in December. The Kovach Momentum Indicators have turned, and we are still hugging the lower bound of the KRI which is ominous for LTC.

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