Litecoin Struggling

Litecoin has rejected $200 and fell to support at $169, the level we identified yesterday. We also said $158 would provide further support if this does not hold and we still maintain this position. The Kovach OBV has taken a dip down, suggesting this selloff had some legs to it. The entire market seems weak and it appears we may need lower prices to inspire some bids. If we do catch some momentum, then $200 is our next target. After that, we still have several barriers in the $200 handle before we can think about $300's again.