Let’s get right to the chase. This consolidation period is where you should be buying Litecoin in huge bulks. Take a step back and think about how the institutional traders are buying into Litecoin. They are not looking to pump the price, which means they have to buy in areas of consolidation.
Litecoin has been consolidating for the last week, and there is no sign of downward pressure which is going to rock the boat. You also need to remember that Litecoin is a significant stable cryptocurrency for transfers.
Conclusions: Do not worry about the entry price for a longer term hold on Litecoin. Price is currently around $140, and while we are under $150, this is a great time to buy more Litecoin. $137 or below is my current value area for Litecoin, and as we have seen no action over the weekend, I would assume that we have another moon launch coming.
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“Patience is the key to any market” – Nathaniel.
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Nathaniel – “The value Trader”
Little Big Movement / IONIC Capital