The turn of December in January is a period of stagnation of the Litecoin cryptocurrencies, which meant that we can now observe the side trend. It seems, however, that this situation will not last very long and in the near future we will see a break in one of the directions. Currently, I assess that breaking the upper limit is the most likely scenario.

Picture 1. Technical analysis,litecoin,H1,2.1.2017

In the case of this scenario, the road to attack another resistance located in the price region of 280 dollars opens. Possibly, breaking the lower limit of the described consolidation is the risk of deepening the correction even to the vicinity of the already tested support of 160USD.

Picture 2. Technical analysis,litecoin,H4,2.1.2017

From the perspective of the time interval H4, we see that the price is currently quite far from the maxima that fall in the area of 370USD, which makes the bulls have enough space to develop the increases.
Risk Warning: The contents of this analysis is for informational purposes only and does not constitute investment advice.

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