Litecoin's Bearish Trend Takes Hold: $43.68 Target Within Reach

Litecoin (LTC) is struggling to find its footing in the market, with multiple technical indicators pointing towards a bearish trend. According to an analysis by Blockchain.news, LTC is currently trading below its short-term moving averages, with a real-time taker flow running 2-to-1 in favor of sellers.

The chart shows that LTC's price is below its 7-day, 20-day, and 50-day simple moving averages, which creates an overhead supply shelf. This means that any attempted rally will likely be met with distribution rather than a launch pad for further growth.

Momentum also confirms the bearish lean, with the MACD histogram flatlining at zero and the RSI hovering below 44. These indicators suggest that buyers are hesitant to step in without a clear direction, prolonging the drag on LTC's price.