FX.co ★ #Litecoin chart analysis

LTC/USD, the quote is currently around 50.50. The asset continues a prolonged decline and cannot hold above the local resistance at 50.80. The technical picture fully confirms the bearish scenario, indicators point to weakness among buyers. The nearest target for a decline is 46.50. Fundamentally Litecoin follows 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 sells from 51.00 with a tight stop above 52.50. If I see a confident close below 49.50, I will hold the short to 46.50. If it returns above 52.50 the scenario will be invalidated.