There is a corrective wave pattern forming that could bring Litecoin very low, but I have a wide margin for error on the bottom. There is an area of support around $50-55. Litecoin could drop to $50 and stop at that support level as well as the ascending lower trend line, and still fit within the red landing zone box determined from Fib ratios of Wave A.
Comment:
It looks like the lower boundary trend line held. There is a huge area of value in the $40-50 range were price was moving sideways for most of the summer. My feeling is that it probably won't go much lower than it already has. I'd like to see some confirmation that it's found the bottom, but adventurous types could start looking to buy.
