Litecoin Testing Support

Litecoin has retraced to support after testing $130. We have retraced from there to support at $124, which we anticipated yesterday. The price action appears to be weakening further, and if so, we can anticipate further support at $120. Unless there is a drastic spike of momentum either way, we anticipate the sideways correction between $120 and $134 to hold. If not, we will see further support from $114. The next targets are $134 and $141, and we must clear $141 in particular to confirm a bull rally and consider higher levels again.