when price is changing volume goes up too, it doesn't matter if it is changing for the better or for worse (down or up) and it only shows people who are making trades to take advantage of the changing price in short term aka day trading. and you can't say it is positive. and in this case the high volume shows a massive dump in the past 24 hours.
what is positive and shows good signs is when price is stable or with little change but the volume is high which shows accumulation with smart money coming in without anybody noticing.
i am not saying litecoin can not go up again, i am saying your conclusion is wrong.
The volume is extremely high but
it is not a panic waterfall collapse. That to me is very bullish. It indicates to me the smart money is trying enter at the lowest price they can before the next blast off.
Nearly all the altcoins are down because the market is confused and thinks that Blockstream has defeated Jilian Wu's BU, but I expect BTC is topping out at $1200 (range bound as I predicted many days ago) once the market realizes that this BS about SegWit signaling on Bitcoin gaining momentum is nonsense. Bitcoin will never get scaling. The market will digest this, Bitcoin will stumble and Litecoin will rocket up.
The market is stupid because Bitcoin will actually benefit from scaling on Litecoin, but the market has to go through its gyrations. In any case, my thesis is Bitcoin remains range bound until Litecoin catches up, because the charge says "It Is Just Time" and because Bitcoin can't move up until there will be scaling in the Satoshi's PoW ecosystem. Litecoin will get it, Bitcoin won't, but that it is a good thing for Bitcoin. Market doesn't realize any of this yet, but the smart money does.
No offense but you sound delusional mate. Jihan Wu is desperately trying to stop Litecoin from adopting SegWit because he knows that if Litecoin can do it so can Bitcoin and that would be bad for his asicboost advantage. It is pretty obvious now what's going on if you've been paying attention and use common sense analysis. Litecoin will get scaling and so will Bitcoin, the cards have been dealt and we just need to play this hand out. Get some more sleep and wake up to the reality of what's going on. Litecoin will rise in price again as soon as it looks like UASF is gaining traction, then Bitcoin will go up once Litecoin has shown it the way forward.