Litecoin price still distracted, but there may be light at the end of the tunnel for LTC

• Litecoin price downside momentum slows, forming a falling wedge pattern.
• LTC is currently down -8% for the week and is trading below the strategically important 50-week simple moving average (SMA).
• 78.6% Fibonacci retracement of the 2020-2021 advance is recognizable support if selling persists.

Litecoin price has failed to hold the support granted by the 50-week SMA, creating another touch on the upper resistance line of the falling wedge. The failure to stick at the…