The cryptocurrency market has seen significant fluctuations in recent times, with Litecoin (LTC) being no exception. Since falling below its moving average lines on March 27, Litecoin's price has been steadily declining.
Currently, the altcoin is trading at a low of $51, nearing the critical support level of $50. According to technical indicators, there are two possible scenarios for Litecoin's future trend. The first scenario suggests that the current price range will be maintained if the altcoin retraces and finds support above the $50 low.
On the other hand, if the bears break through the $50 support, Litecoin may fall further to a low of $45 per coin. As it stands, the LTC price is trading within a narrow range above the $50 support, with a current value of $52.90.