Litecoin is undervalued, in my opinion, but time is a great means for a coin to shift people's perception.
I am looking at the long trend and Litecoin doesn't seem to stay down for very long before heading back to the upper trend line and doing a little show. I'm hopeful we'll see another performance in the next month or two from Litecoin. Nothing spectacular, just a healthy and steady increase in price.
That being said, Litecoin is very much tied to the price of Bitcoin, so strange happenings in the world of Bitcoin can really put the kibosh on Litecoin's party.
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The Human comes to life encased in a shell of protection, but to grow we must crack and then finally break that shell, having faith that as we grow we will not need the protection we once felt safe inside.