LTC Price Prediction: Coiled for a $9 Drop Before Relief Rally

LTC is currently trading at $45.56, off 1.3% on the day, and its chart looks like it's paralyzed.

The 7-day and 20-day simple moving averages are within a dime of each other and current price, indicating a market holding its breath before a directional resolution.

Momentum has completely drained out of the asset, with the MACD histogram flatlined at dead zero and the RSI precisely at the midpoint of its range.

Despite 65%+ longs on both retail and smart money desks, the derivatives market is starting to give a clear answer, that a flush to $44 before any relief rally is likely.