If you bought Litecoin with the USD, you should be happy, but it would have been better to invest in Bitcoin as Litecoin vs. Bitcoin LTC/BTC has been sliding and might extend further lower.
Litecoin might have its day, but not anytime soon, and not in 2017.
LTC/BTC Daily Chart
- First of all, LTC/BTC signaled a major bearish clue when it came down below 0.0099.
- Note that this 0.0099 to 0.0100 area then became resistance - more bearish clues.
- Finally, during the 12/6 session, price broke below a recent consolidation trendline support.
- The RSI was unable to break above 60, reflecting maintenance of the bearish momentum.
- We should look for 0.0070 to be tested, with 0.0050 as a possible bearish target if price clears below 0.0070.