Do I wish I was cash then rebought? Of course, but were are here now and need to assess the next steps in Litecoin's trajectory.
On the 4 hour chart it looks like we are pivotal area where the latest more recent break of the downtrend meets the next rising as shown by the solid and dotted blue lines, respectively. It's very interesting to note, to date, it looks like the 38.2% fib retracement might hold, but we will need to check whether price sticks to the dotted blue line and continues to rise.
To get the full picture on LTCUSD , we also need to assess LTCBTC chart which looks to be holding firm on a weekly chart which gives me further confidence that we could see some near-term upside in LTCUSD . I think the resistance, depending on buying , will manifest around the $282 area and then $300-$304 where the latter is more of a psychological barrier.
Purely on a market capitalization basis, if LTCUSD starts falling anymore there could be significant damage and repercussions to its marketable. Note LTCUSD may have well been the victim of its own meteoric rise in early November from $58 to over $400 due to the fact that the mainstream media not only picked up on its rise but also its fall. As a result, potentially scaring away some buyers in the interim.