Sideways trading in the alt-coin space is extremely boring. Volumes are minimal, and we've seen a lack of development and hype surrounding all things NOT bitcoin.

Ethereum Daily Chart

Litecoin Daily Chart

Bitcoin Cash is still tanking as always, so I'll leave that out. I'll mainly focus on Ethereum and Litecoin since they're the other two of "The Big Three".

These sideways channels are fine, but they're not at the level(s) that I'd expect for died down hype and mellowing out. The crypto space is definitely due for some mellowing and steady action. These periods of lull activity usually follow after a large long bear market which we haven't experienced (yet).

Litecoin seems to be doing the worst of the sideways pairs as it recently formed a new low on the daily hinting that it might break the low support of the channel.

What about market analysis? ICO's are the norm. Litecoin isn't doing anything and is coming off of still a huge growth spike where it nearly touched triple digits. I would assume that bitcoin would have been in the same boat as well, but you know that whole greed of doubling your BTC supply like what happened for BTC-->BCC.

If you have cash sitting on the side, I wouldn't be inclined to put it in the markets just yet. BTC is approaching its ATH and the other alts aren't doing anything at all. Patience is going to be a key here.

Happy trading!

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