LTC price analysis: Bears grab power at $50.86

Bearish Litecoin price analysis when market falls below $50.86. This follows price consolidation. The bears are pushing LTC/USD prices near $50.44 support. 

 Litecoin has been consolidating between $49.00 and $51.00 in recent days. The digital asset is down over 0.9% on the day, trading at $50.86. 

The Litecoin daily price chart reveals a negative trend for the market today as the price fell in the last 24 hours. In the immediate term, LTC/USD seems negative

, but a breakthrough from the present consolidation zone might send the market above $50.44.

As the signal line goes below the candlesticks, the MACD is bearish. The LTC/USD RSI is at 44.68 and headed towards oversold levels, signalling a possible bullish reversal. 

The 4-hour Litecoin price chart displays a negative trend. The market tried to reach $51.00 but slipped below $50.8

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