Crypto Obituary! If $200 Falls — Bye Bye Litecoin! (LTC)

Hi friends! As you know, I've been calling for $200 Litecoin for weeks now, and here we are. Litcoin is currently pushing down onto the critical support, and as I've warned, if we get a sustained break below that, prices could begin to plummet. You can see that we're new back inside of the downtrend channel, so the bottom of the channel could be supportive if LTC gets down there. On the other hand, if the critical support level is lost, I think some panic selling could ensue. As we discussed in my last LTC post, there isn't much support between $200 and about $153. The only identifiable support, is at the bottom of the falling channel, and the red trendline that extends from the low on December 22nd. The bulls must hold the critical support level at $200. It was already violently pierced a few hours ago. If $200 is lost, look out below!

This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Pleas follow, comment, like, and share on social media! Good luck trading everyone. Peace!

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-JD-