Litecoin has been trading in a tight range for the past three days. The bears have not been able to break below the critical February 02 support of $107.102.
In the same way, the bulls have not been able to force a pullback, hence, the tight range. If the $107.102 level breaks, the next support is at $84.706.
However, as the RSI is in the oversold territory, we might get a pullback, which will face resistance at the 20-day EMA and the downtrend line.
Our goal is to wait for a buy setup to form before attempting a trade on the LTC/USD pair.