Given favourable market conditions (Bitcoin bullish momentum) it is fair to expect a break to the upside for LTC. As we can see on both the 4hr and Daily chart we have an ascending triangle with higher lows. There is also a potential for an inverse H+S pattern to play out. Hard resistance is at around $58. Buy orders can be placed above this level, buying the breakout. Also posted are some tentative resistance lines for the upmove.
It's going down. The cryptocurrency market has taken a fatal blow form new government regulations, China and South Korea shutting things down. Aside from that, there are exchanges leaving the US due to a number of issues from funding, regulation and customer service issues. Additionally there is an increased competition among new cryptocurrency and assets where investor money is spread out across numerous opportunities. I think there is a lot more down before we'll see the silver lining in the crypto trading category.