Let's look at the daily on LTC . The chart looks intimidating. From my earlier chart I posted that we could hit 150 and boy did we! However, it dropped a lot lower than I thought. I got in a position at 147 average. What I am watching now is the price action and if it drops below 137 and close we will see further selling. I do not think that is a probable but nothing is impossible.
What I am paying extra close attention to is the last candle and hoping that it does not close below the 200 so that means we need to end the day with the candle body piercing that moving average. The next thing to watch is the 100 and 55 EMAs if they cross further sell can occur, but if they just KISS we could see some sideways action, or as I hope, a surge up to the 190-180 range.
For me I have my LTC buys in, so now, I sit and wait for some indication of an uptrend or downtrend.