Quick update on the Litecoin markets.
The Litecoin hype has slowly been dying and we can see that the trading volume is dried up.
In these situation we are usually faced with a break upwards or downwards, prices are coiling tighter as the market decides on a direction.
If there is no buying volume prices are most likely going to retest the $200 zone, which is also our short term support for the market.
RSI and PPO are both hinting towards the bearish side and we should have confirmation soon enough.
I am neutral on the Litecoin markets, might consider to go long should prices consolidate above $230 on the near term.