Technical Analysis: Litecoin - Feb 1st

Well overnight we saw the price of Litecoin break the last fib support of 0.786 as the price of Litecoin continues to fall. Look to see the price continue on this downward trend breaking below the 0.786 support again and possibly taking out the prior low. If the price takes out the prior low look for the continuation of this trend for awhile longer however, this is a very important support so it will be interesting to see how the price reacts to it in the next couple days.

I am still bullish on Litecoin and believe we will see a large impulse move upwards within the next couple weeks.