Litecoin Late Night Market Observation

The veteran mainstream coin LTC continues to perform steadily. Looking at the 1-hour chart, it retraced from $113 down to around $107, which happens to be a relatively key support area. To be honest, this level is quite delicate — as long as Bitcoin doesn't experience a particularly strong directional move, coins like Litecoin with their "end-of-the-world tank" characteristics usually won't disappoint.

If you want to participate, you might consider a small position at the $107 level for a long, but be sure to implement proper risk management. The short-term target is around $124; if market sentiment continues to ferment, $136 is also possible.

Of course, this is all under the premise of strictly setting stop-losses — after all, the overall market volatility is still quite high right now, so don't let one asset blow up your account.