FX.co ★ #Litecoin chart analysis

LTC/USD, the quote is currently around 50.50. The asset continues an extended decline and cannot hold above the local resistance at 50.80. The technical picture fully confirms the bearish scenario, indicators point to buyer weakness. The nearest target for the decline is 46.50. Fundamentally, Litecoin is following the overall cryptocurrency trend, which is losing value. Today's macroeconomic events, such as Lagarde's speech and the OPEC report, may increase the pressure. I am considering selling from 51.00 with a tight stop above 52.50. If I see a decisive close below 49.50, I will hold the short until 46.50. If it returns above 52.50, the scenario will be canceled.