No light hearted news for Litecoin.

With both Bitcoin and Litecoin hitting major Weekly resistances they have pulled back hard. The next support on LTCUSD itself is 3.23. If price recovers it will have to conquer $5 to go any higher.

The positive correlation between Bitcoin and Litecoin remains strong. In this bearish move Litecoin moved down 40% off the high while Bitcoin moved 30% off the high as of writing. LTCUSD, which I have a long term target of $0.00, remains a great hedge to short against to protect Bitcoin holdings. I do not advise using LTCBTC though. There is not enough volume to trade safely with set risk stop orders.