Litecoin snapshot and what happens next

I'm not going to lie, I'm feeling a bit bummed out right now. I completely missed the litecoin pop after telling myself last night that I needed to move some bitcoin over to LTC. However, I was getting ready for bed and forgot. Story of my life as LTC went on to run as we all know. So since I missed the first breakout, I decided to look at where litecoin will go from here.

Currently LTC is sitting around 207, and has run into a bit of resistance. As you can see from the chart above, where I am displaying the zoomed out 5 hour chart, litecoin has run into a bit of a resistance zone. The chart broke out strongly this morning on news that people would receive 10 Litecoin cash tokens for every coin of LTC that they currently hold. However, now we have to decide if this breakout will keep moving upwards.

Personally I am going to wait and see if LTC will be turned back in the short term, or if it will fight up into the resistance zone. Over on GDAX bids are starting to come in moving LTC slowly upward, so we shall see. Remember not to buy into all the different hype pieces that you see yelling about LTC running to $300 and $1000 ect, in the next few moments. If LTE continues to break through this resistance however, I would not be surprised to see LTC continue to climb going into the fork on Sunday as people will be looking for LTC cash to act in a similar fashon to Bitcoin Cash. Litepay getting implemented soon is also a positive development for the currency, so plenty of positive movement to sustain this push up.