This is for anyone waiting for LTC to breakout and make that long-awaited "jump up".
We saw LTC hit as high as 0.02 BTC per coin in December (again), and then everything has gone upside down. So, long time crypto traders/investors should be thinking that LTC is highly undervalued right about now.
We are surely experiencing a hard time in whole the crypto-market. This depressing bear market has been going on for around 1 month now. This being crypto market, 1 month is equal to almost 1 milennium on conventional markets. That's why we all are so anxious and eager.
However, nothing is lost, yet. Also remember, YOU DO NOT LOSE MONEY UNTIL YOU SELL YOUR HOLDINGS AT A LOSS. That is the idea behind "HODL". Hopefully you guys are holding onto your Litecoins. If not, if you even looking to invest in LTC anew, read below.
Recent price action shows a flag pattern on LTC chart. Although we are probably still a little far away from breaking out, LTC price movement between 0.0154 and 0.0180 wouldn't be any surprise. For a period of 3-4 weeks, LTC seems like it would fluctuate between mentioned prices. If we see a solid closure below 0.0154, or above 0.018, then we can re-assess the situation.
It seems to me that between the price levels of 0.016 - 0.0155 is a safe zone to buy. I don't see LTC going much lower than 0.015. However, in given period of 3-4 weeks, if the price hits around 0.018 level, it's better to have some profits flow to your account than wait greedily for higher levels than that and probably see the price experience a correction. So, hopefully you'd be your own correction and be happy with the result of your trade.
Happy trading!
DG