Litecoin (LTCUSD) price declined in its latest intraday trading after hitting resistance at its 50-day SMA, exposing it to negative pressure. This comes while the short-term corrective bearish trend remains in control, with trading moving along a downward slope line that supports this path. In addition, the Stochastic indicators have reached strongly overbought levels, exaggerated relative to the price movement, signaling the fading of the prior bullish momentum surrounding the price.

Therefore, we expect the currency to decline in its upcoming intraday trading, as long as the resistance level of 118.50 holds, to then target the support level of 106.75.

Todays price forecast: Bearish.