Vital support below
I believe that there is vital support below, extending down to the $40 level. So, while longer-term I think we go higher, this might be a market that’s a little bit difficult to get your head around as it seems to be lagging some of the other crypto currencies out there. Because of this, I think that you could buy on the dips, but you must be patient. Build your position slowly, as explosive profits probably won’t be seen here until we get an overall move in the crypto currencies to the upside. Right now, it seems like we are in a consolidate of tone overall, with a slightly upward bias when it comes to crypto currencies, and unless something changes with LiteCoin specifically, I believe that this market might be a bit of a laggard when it comes to the entire sector. If we were to break down below the $39.50 level however, that would be a very bearish turn of events and could have me selling. I remain cautiously optimistic in this market.