Litecoin continues to hold $45 and probably will continue hold

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Not surprisingly, Litecoin (LTCUSD) is holding it's $45 support today. While it is possible that it could go lower, my suspicion is that it won't. Instead, while Bitcoin (BTCUSD) continues to unravel until our Aug. 1 target date, I suspect Litecoin (LTCUSD) will bounce around in here between the $45 support and $50 support until our middle Bollinger Band or 20 MA comes up a bit to give us a boost. Once this happens, it may provide just enough steam to propel us back over $50 which is now currently acting as resistance. Then onto $60-$75 for Litecoin!

Happy Trading friends!