After holding the 20-day EMA ($42.11) for the past three days, Litecoin (LTC) has dipped below it today. The 20-day EMA has started to turn down and the RSI has slipped into the negative territory, which suggests that bears have the upper hand.
The next support on the downside is $35.8582. If this support also cracks, the LTC/USD pair can plummet to $29.3296 and below it to $23.9777. Therefore, the stop loss on the long positions can be kept at $35.
Our negative view will be invalidated if the pair rebounds off $35.8582 and breaks above the recent swing high of $47.6551.