If we break 175 again that will give us a 4h higher high and a good enough sign for me that a trend reversal has occurred.
This is looking more and more likely to come to fruition because of the rising bull . That is the biggest key indicator as myself and many others have pointed out in order for any of this to happen, otherwise we will continue for a while longer. But, the 20 period vol. MA is steadily rising, so I'm optimistic that this will be sooner that later. No matter what, 100$ is strong support for LTC, and if worse comes to worse, we form a triple bottom :D I have a theory about why there is only dumping in now rather than before, and that is that many newcomers (people who buy at tops or when there's too much sign of bull movement just to be sure) who speculated since perhaps Christmas or thanksgiving were waiting to buy in, and began doubting until now. Now that they have earned 1 or 2 paychecks in January, they're waiting for moments like now to start buying in when the coast is clear. Also, whales are probably waiting to buy in etc. Since LTC is "cheaper" than bitcoin , that might be enticing for those kinds of newcomers as well.
Long term perspective, we are still in the green up-trending channel, which will be hard to break below even in the worst case scenario of the next few days/weeks being very .
Please comment with thoughts and constructive criticisms of my analysis, I appreciate any and all input. Peace out.