Technical Analysis: Litecoin - Feb 17th
Litecoin is still moving in a consolidated pattern after it broke through the $215 resistance level set as a previous high. We should see this trend continue for awhile until it breaks that upper resistance line and starts the next impulse move upward to the $267 resistance level. It will be interesting to see how Litecoin reacts to tomorrows announcement and implementation of LitecoinCash which has had mixed reviews from people including creator of Litecoin Charlie Lee. For those that don't know, Litecoin will be experiencing its first hard fork in which all owners of Litecoin will receive 10 LitecoinCash tokens for each Litecoin owned.
LTC is currently flying high. I hope this fork is not just another pump & dump.
Yeah that is a possibility as even Charlie Lee does not endorse it and posted his thoughts about it on Twitter. There has been no information released behind the system and what the programming behind the coin so we should find out tomorrow whether it is a pump and dump scheme or if it is a good fork like BitcoinCash.