Litecoin Testing The Range

We called the Litecoin breakout perfectly! And did it ever breakout! We went from the $180's to around $226, which was in perfect alignment with our Fibonacci Extension level and a target price. After that, we fell all the way back down to the $180's. However it was swiftly bought back up to the $200 handle where it is currently hovering after finding support. We can expect LTC to attempt to find footing in this rather large range between $180 and $226. Current levels may present good buying opportunities, but we may retrace back below $200, which would be even better. Watch for a consolidation pattern to start forming which would precede another breakout.