Litecoin price suffered sharp losses yesterday to succeed reaching our main waited target at 40.00, and we expect the continuation of the bearish bias in the upcoming sessions supported by the negative pressure formed by the EMA50, to extend the next target towards 33.30.
We should note that failing to surpass 40.00 might push trades to test 50.00 followed by 54.30 areas before any new attempt to decline.
Expected trading range for today is between 35.00 support and 45.00 resistance
Expected trend for today: Bearish