Litecoin Price Forecast: LTC/USD failure to regain $50 has proven to be punishing
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- Litecoin price is trading in negative territory by 0.30 % in the session on Monday.
- LTC/USD has lost upside momentum over the last five sessions.
- The bulls failed to break down the supply in a run into the $50 mark, inviting more downside pressure.
LTC/USD weekly chart
Last week’s candlestick closure produced an evening star, which could be followed up by a week of selling.
LTC/USD daily chart
The price has broken out to the downside from a bearish flag structure, leaving the door open to greater moves south.
Spot rate: 40.33
Relative change: -4.35%
High: 42.03
Low: 39.56
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