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LTC Price Analysis: Crypto Selling Activity Drags LTC/USD Beneath $45.00, Litecoin Partners Atari Video Game Firm as a Payment Processor

*As at press time LTC/USD exchanged at $44.13 after a 3.00 percent decline from $46.20 (intraday high)
*The spot price for the Litecoin (LTC) stays lower from its $50 May tops before Bitcoin halving
*Litecoin (LTC) is being authorized as a payment processor to buy the latest Atari VCS gaming console

LTC/USD Daily Chart: Ranging

LTC/USD Daily Chart

Significant downward price action may lead in a further inflated shift, as the long positions may begin to untangle. This week, given the sudden bearish shifting from the $51.00 resistance area, Litecoin seems to be at risk of further potential losses. The technical analysis reveals that the LTC/USD pair may discover persistent weakness under the $45.00 mark as a bear market.

As seen in the short-term timeframe above, the price has fallen below the region of $45.00 and found some support just under $43.00. The area of $43.00 has been used several times in the past and is represented by the MA 50 red line on the 4-hour chart. Under the 50 mid-line, the Relative Strength Index indicator has dropped into a more bearish position, which may be a warning that more bearishness is coming.

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