Litecoin Testing Value in the $150's

Litecoin had a formidable rally last week, testing and rejecting $165 again. The level $165 seems to be a ceiling for LTC for now, as it has in the past. We've since retraced quite a bit from this level, smashing through support at our technical level at $158, which did little to slow the selloff. We are currently drifting in the $150's, and appear to be seeking value in this area. It looks like we are testing $153 as a lower bound to a potential value area, and thus we have added $153 as a new technical level to watch. We are seeing some very slight support here, and may be drifting back up to test $158, but if we don't see momentum come through it is likely to reject this level and hold the range between $153 and $158. If the $150's don't hold, then we should see support at $147 and $141.