The minor trend of LTCUSD (at BITFINEX) slides through sloping channel, while back-to-back shooting stars and hanging man pattern candlesticks have popped up at channel resistance to nudge price below DMAs, To substantiate this bearish stance, both momentum oscillators (RSI & stochastic curves) signal more dips on cards (refer daily charts). Currently, LTCUSD trading at $77.842 levels.

The major trend of this pair constantly slides below EMAs after bearish crossovers (refer weekly plotting), both leading as well as lagging indicators on this timeframe signal bearish momentum.

Both RSI and stochastic curves show constant downward convergence to indicate strength and intensified bearish momentum. While EMA and MACD show bearish crossovers to signal downtrend to prolong further.

We see this bearish sentiment despite the announcement of Charlie Lee, the founder of Litecoin, about its partnership with TokenPay which is the Swiss-based cryptocurrency payment platform, that recently in the news that it would be procuring a deal with the privately owned WEG Bank in Germany. While Derek Capo, CEO of TokenPay, also confirmed and upheld the partnership.

It is wise to stay short in this pair for the further bearish targets upto $72.118 levels.

Currency Strength Index: FxWirePro's hourly USD spot index is displaying shy above 171 levels (bullish), while hourly BTC spot index was at -25 (bearish) while articulating (at 09:03 GMT). For more details on the index, please refer below weblink:

http://www.fxwirepro.com/currencyindex