In this chart, we can see the ascending channel that LTC/USD has established since December 18th, 2019. There's still a long way to fall before the pattern is broke, which I believe is unlikely.
However, the RSI has fallen below 40, even though LTC is clearly not oversold, as it's forming a short-term top. The RSI should be much higher. This kind of divergence between RSI and price action likely indicates a short-term trend reversal, meaning LTC could fall to $60 or lower before resuming its present rally.
The current uptrend can't be denied and isn't likely to reverse. But traders are likely to continue taking profits after this 5-week long bull run.
However, the RSI has fallen below 40, even though LTC is clearly not oversold, as it's forming a short-term top. The RSI should be much higher. This kind of divergence between RSI and price action likely indicates a short-term trend reversal, meaning LTC could fall to $60 or lower before resuming its present rally.
The current uptrend can't be denied and isn't likely to reverse. But traders are likely to continue taking profits after this 5-week long bull run.