Litecoin price is evidently following the market development of the crypto-list leader Bitcoin. On a medium term understanding [time based], LTC is targeting, while hoisted by bulls, the $100 mark.
The very rapid rise of DASH in the recent months has tanked and pushed down Litecoin on the 6th place by market capitalization. Needs to be noticed that a longs absence in the top 5 list can have a negative impact on the asset, so it is awaited that a high volatility wil come with statements from the team that backs up the Silver Coin [Litecoin].
For the event that you notice that the Litecoin moving pattern stays in correlation with Bitcoins and the surge continues, a speedy movement towards $80 and $83 is to be expected. The particular are should be considered closing long positions.
Just recently, the pair LTC/USD did slow down its movement approximately $73.00 barrier. Right for the moment [after a pullback] the level represents the closest supporting line. If however, the value corrects further, a turn back to $67 is most likely the scenario.