The title really says it all. LTC is trading around the 1W MA50 on a possible mid term support event for the current Bull Cycle, which is methodically repeating the 2015 sequence. This MA period previously held throughout 2015 - early 2017 up until Litecoin initiated its super strong rise to the mid 300s peak.
Notice how the Top-to-bottom and bottom-to-Halving bottom phases between the 2 cycles have been virtually identical.
There is no reason to expect something different this time. Unless we see a major divergence below the 1W MA50, I expect this level to attract buyers and give sporadic spikes on a lengthy consolidation until the next super strong parabolic rise.
Let's hope you're right. But my way of looking at LTC is the Halving Party is over, there are a few hundred empty beer cans on the hotel room floor, stale beer reeks everywhere, and everyone but a few passed out party-goers and a couple of hookers have gone home. Someone's underwear still hang from the light fixtures and holes have been punched in the walls from the revelry from last night's party. The last person to leave will need to pay the damage deposit for the hotel room. The Litecoin party is over. It is back to sub-60's (50s ?) when everyone reports back to work next week. But hey, there's always the next halving party to look forward to. They don't care they lost 50% of their LTC value since June. As long as LTC is above $5, then they will have an excuse to meet others just like themselves and have an excuse to drink beer and "HODL On". After all, they are the smartest guys in the room. I know because they told me so. LOL