I am over all long on litecoin, you can do alot but ignoring the weekly ltcbtc chart might be a mistake of a life time. The markets are however shaky at the moment, and despite bitcoin taking out the $18.5 ranges low ranges recently litecoin held strong above $51, affirming the bias that the pair ltcbtc is gaining momentum. The previous lows for liteoin to be taken out would have been $46 range.
Although I am longterm long on litecoin, I have my hedge trails open at all times, taking short position on those short term price drops. For now there is need to be on the look out for fed rates and cpi data and the indexes but look forward to the day crypto decouple to these aspects