Our long position in Litecoin recommended at $165 is under loss. Traders who have initiated long positions should keep the stop loss at $142.
The LTC/USD pair has again fallen below the downtrend line, which is a bearish sign. A critical support is the March 18 lows of $144.544. If this level breaks, the support line of the symmetrical triangle can provide support at $127, below which a retest of the February 02 lows of $107.102 will be on the cards.
The virtual currency will turn bullish only after it breaks out of the $200 levels.