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LTC is currently at spot #7 in terms of total market capitalization.
At the time of writing, LTC price is currently sitting at $55, slightly below since yesterday's analysis.
As you can see from the chart, LTC finally had a deeper retracement since breaking that trend line, which could actually be good (would give it more time to consolidate). Right now, if LTC manages to get some buyers interested in this current level, we would look to see if it can break above $59 and then show some signs of consolidation at that level before an attempt at the $62 resistance.
On the downside, if LTC fails to show some consolidation here, it might end up ranging between $50 and $54 for a bit. As we mentioned yesterday, for now it looks like $50 seems to be the last stand for LTC. Below $49 we would be looking at levels unseen since 2017, as you will note that LTC showed relative strength to BTC during previous dips.
On the daily chart for LTC, technical indicators are unchanged since yesterday and give a bearish outlook (15 sell, 10 neutral, 1 buy)
On the weekly chart for LTC, technical indicators give a bearish outlook as well (15 sell, 7 neutral, 4 buy)
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