Litecoin exited the range, breaking through the support level on $ 200 and testing it from below, now as the resistance.
Thus, we can state the development of a downward trend.
And since, according to the axiom of technical analysis , the trend is more likely to continue than to change, so further decline is more likely.
The support zone starts at $ 100.
Resistance is at $ 200.
As always, we have to consider the behavior of BTC, since they’re so tightly correlated. If BTC takes off in an upwards direction, this is going to be a losing trade. As of the 1hr, I see we’re headed in the opposite direction.