Litecoin Bottomed Out??

20 May 2021

Litecoin got hit really hard with the crypto massacre. We got smashed down to about $150 at the lowest, which would have been difficult to fathom just a few days prior when we were hovering near all time highs. Traders did appear to buy the dip and they bought it pretty hard, pushing the price back up to the low $200 handle. We still have quite a way to go before Litecoin can return to its former glory in the $400 handle. We are sitting at resistance at $209 which is a technical level from a low of April If we can break through that, we will have further resistance from a cluster of levels, but the next target would be $264 or so. Litecoin will recover, but we have many obstacles in our way.