Litecoin followed Bitcoin in its fluctuations

Litecoin followed Bitcoin in its fluctuations as the currency pair stayed close to the ascending trend line and the support area at $146. However, it started to decline several hours ago indicating the beginning of a correction. The currency pair has almost reached the support area at $138, but was unable to test it. The Ichimoku cloud is almost invisible here and currently there is no need to consider it during the analysis.

The possible LTC/USD scenarios for the nearest future are:

1. Litecoin will start to grow towards the closest resistance area at $146. There, it will test the line and depending on the results, will be able to rise above the ascending short term trend line or decline again.

2. LTC/USD will test the support area at $138 and break through it. In this case, the bears will be able to develop their progress and target new lows.

3. Litecoin will stay close to the current levels with no significant changes.

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