I´ve just analysed different coins and tokens and much of them are in a triangle pattern, as Litecoin too. Will this be a turning point for the whole cryptomarket or will the downtrend continue?
For Litecoin it´s a long way to install a new trend, because the negative trend channel is large. At the moment the upper limit is at 137$, 20% higher than the actual price.
A sideways direction is more probable and so Litecoin will remain in the channel for a long while.
If BTC breaks the support to the bottom Litecoin will be affected and will break its support too. The correlation between these pairs is 0.95 (on daily closes).