FX.co ★ #Litecoin chart analysis

This week a bearish bias persists for LTC/USD. The price is trading around 51.2, and sellers control the situation. If the price does not hold above 51.24, I expect further declines to 50.00 and 48.00. Resistance above is at 53.19, and only a close above it will ease the pressure. Technically the pair is trading below the 200-day moving average, and momentum remains weak. Fundamentally, Litecoin follows the overall crypto trend. I personally am looking to sell from 52.00 with a tight stop, and if 51.24 is broken to the downside I will hold the short to 48.00.