This chart assumes the downtrend will continue within its channel, as it has been. I copied the previous price movement and imposed it into the future as a rough estimate. I am not convinced that it will continue as far down as I have projected it, but I do think it is possible that LTC will retest $100 support again. Whether or not this will happen, or if the support will break is anyones guess.
Commento:
Obviously I don't think litecoin will go that low. I don't think it will get anywhere close to testing 60 or 70, but nothing is out of the realm of possibility. I think we can expect lower 100s to happen again, but if anything close to this chart occurred, we would be talking about a serious problem, something fundamentally game-changing.
Commento:
