The long position in Litecoin recommended at $165 was closed when it hit its stop loss at $142 on March 27.
The LTC/USD pair now has support at the trendline of the symmetrical triangle at $128. If this support holds, the bulls will make another attempt to pullback towards $187. However, if the support breaks, the cryptocurrency can fall to the February 02 lows of $107.102.
The 50-day SMA has flattened out, which points to possible range bound movement. We will turn bullish when the price breaks out of the 20-day EMA and the downtrend line.