Many have said in the past, that LTC seems to be ahead of the trend for BTC .
Points of observation:
On the WEEKLY chart : LTC is heading towards a major resistance, the 21 while sitting above the .
On the ; LTC is heading towards the 200 (resistance).
Like BTC , the MACRO formation resembles BTC in terms of BEARMARKET, followed by 1st parabolic advance and moving towards stage 2, another minor parabolic advance.
(refer to my previous posts about the BTC macro trend).
I also have it as per the chart, that we moving away from the , represented by a break in the , and moving into the upward channel with a clear line of the botton support of a macro symmetric triangle.
Note the fib.circle (red ring) breached which was a major resistance.
And how confluence occurs at key fib. retracement levels.
I envision, like BTC that LTC will try to hit the ATH for this year but will fail.
We will need to see when an open and close daily candle passes the daily 200 .
If it passes it this month, then I see LTC making another attempt at the top ($140) price or less.
If it passes it later in December, then I see $101 being the target before the accumulation phase as per the charts.
These are my initial thoughts and I will see which of the 2 scenarios eventuate, to make the decision to go long.
Obviously I will compare with the BTC pairing chart, before I go long, otherwise continue to short.
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WEEKLY chart (coinbase)