Would Litecoin be a good candidate for making money in a sideways market? Litecoin's price has been steadily going down for over a year now but if you look at the shorter term charts, it looks relatively stable as it keeps to a narrow range. Would it be possible to make a profit by buying when the price falls underneath this range and selling when the price shoots over? What other sorts of strategies are useful when trading in a sideways market and are there any better examples of coins out there that follow the same trend?
EDIT: The range in the above chart is between 0.006 BTC and 0.009 BTC with a highly stable price during February (price stayed between 0.008 BTC to 0.0072 BTC). The x-axis is from January 2015 up to today.
EDIT 2: Completely forgot about NuBits and BitUSD. Since these are coins/assets designed to track the value of the US dollar, they should keep to a very small and specific range compared to other cryptos. For example, you could place buy orders when the price falls under $1 and sell when the price falls over $1.
Has anyone ever tried the above strategy with these markets? Does it work? And if not, then why not? Depending on how strong the peg holds, could trading fees make it not worthwhile?
