On Apr 15, Litecoin reached a low of under $75. By Apr 16, highs over $82 were reached. At the time of writing, however, Litecoin was trading slightly above $80.
Will this most recent dip bring prices back below the $80 threshold?
On Apr 4, the price reached a low of $81.30. A gradual increase was followed by a gradual decrease. The price has made several lower lows. Tracing these lows gives us a descending support line.
The price is likely to trade inside the confines of the wedge until a decisive move occurs.
In order to predict the direction of the move, we need to take a look at previous movements combined with technical indicators.