Litecoin (LTCUSD) price is holding onto sharp losses in its latest intraday trading, amid continued negative and dynamic pressure as it trades below its 50-day SMA. The price has recently broken below a main short-term bullish trendline, exposing it to further downside pressure. Meanwhile, negative signals are beginning to emerge from the Stochastic indicator after the price managed to ease its oversold conditions, giving it room to post additional losses in the near term.

Therefore we expect the cryptocurrency price to decline during its upcoming intraday trading sessions, as long as it remains below the resistance level at $54.65, targeting the key support level at $52.00.

Todays price forecast: Bearish