LTCUSD Long-term Trend: Bearish
Distribution territories: $200.00, $220.00, $240.00.
Accumulation territories: $180.00, $170.00, $160.00.
Litecoin is currently having bearish outlook few weeks back. The market has not been finding it easy to break the immediate distribution territory of $200.00. Stochastic oscillator indicates that bearish movement is expected to be taken advantage of. Taking a close look at moving average 13 and moving average 50; both are pointing southward. Going by these analytical indicators, a bearish trend is strongly in place. 
Market could move up and retest the immediate distribution territory of $200.00 before forming a strong retracement pattern which could as well lead a resumption of the bearish movement. Similarly, there would be any strong retracement from upward movement in price from the second immediate distribution territory of $220.00, to break accumulation territory of $180.00. At that point, market could be for bears to take a good advantage of in the long term.
