With that said, it’s still in a position of strength. is not red-lining, is healthy and the tech roadmap looks good.
There are four possible paths in the near term:
1. Lead coins hold steady, break the bears soon, so Litecoin trades sideways until the others catch up.
2. Lead coins take longer to break their down trends, in which case we revisit the $185 before continuing on.
3. Lead coins are unable to break through their respective downward , thus dragging us down with it, to the $165–170 levels.
4. Unforeseen headlines pull us under the previous down trend to the low $100’s
I’m personally leaning on #2 but I’m not confident enough to put my money where my mouth is. It’s a wait-and-see game for now.
NOTES: The grey dotted line is the previous downward . The blue dotted line is the long term, hi-lo median .
Don't trade the farm for Bitcoin's little brother just yet. BTC and ETH still have a difficult road ahead to break their respective bear patterns. But take this as a good sign the bulls might be coming over the horizon sometime in the next few weeks.