On a Hourly time frame Litecoin is forming falling parallel channel, security closing below the parallel channel would be an opportunity to enter short.

The daily RSI (14) is trading with a price conforming to the move and has close below its previous low indicating a breakdown on the downside.

Price are trading below the Fast EMA (21) and Slow EMA (50) indicating a negative trend. Fast EMA indicating a negative trend Slow EMA yet to confirm the trend.

Momentum Indicator MACD (12,26,9) indicating negative trend.

Henceforth a Sell position can be taken once the security closing parallel channel.

Falling Parallel Channel

May 18 2023