LTC is currently establishing a $36 support zone. Consider the volatility magnitude in proximity to this level - it proves the importance of the retest. If the price merely touches the level and you open the position afterward, stop-loss orders are likely to be executed because of high volatility. However, when the level is tested again, you will be sure about it and the signal will most likely be precise.
Again, the $36 zone is extremely strong. It is very likely that next month a classical $36-$48 channel for LTC/USD will take place.
At the same time, $48 strongly resembles a resistance zone. So, consider the volumes when opening positions from that zone.
In general, everything looks positive for LTC and the news is positive as well. This is also proved by the $2 bln market cap. It appears that in the near future, LTC might become a good hedge instrument.