Litecoin Melts Down 😱📉
Litecoin has dumped yet again, finding support at $55.84, the level we identified yesterday. We do appear to be seeing some support, but were not even able to cross the vacuum zone to the next level at $66.94. A relief rally could easily take us back to that level or the next level at $73.62. However, we appear to be establishing value in the vacuum zone between $55.84 and $66.94. We are not seeing enough momentum to warrent a further rally despite the incredibly oversold conditions. If the selloff resumes, then $55.84 should give support, otherwise we will feel out lower levels in the $50's.
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