This is the same pattern seen in BTC and XRP. BTC needs to break upward first to free us from the purgatory of consolidation. I suspect it will go back up. Once everyone realizes BTC isn't going anywhere things can get back to normal.
Technically this might be correct but for as long as LTC is joined at the hip with BTC it will just follow. If BTC goes down so will LTC, so keeping an eye on BTC will provide answers for your chart here.