Litecoin has remained very inactive in the last 12 sessions, unable to break the support at $144.716 on our 78.6% Fibonacci retracement, and also unable to break the $166 resistance, the pair continues consolidating and this will likely be the case in the short term, once we have a breakout we will have a clearer picture of a trend.
The Bollinger bands are very narrow, volatility should be low in the next few days, the price trades closer to the lower band, suggesting that it is relatively low which might incentivize traders to open long positions.
The relative strength index is at 40% which will allow Litecoin to start a rally in the mid-term once the consolidation phase is over.
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