#Litecoin (LTC) Price Feared for Another Drop
The Litecoin price had broken above the prolonged consolidated range in the first few weeks, but the momentum faded as the token reached the end of Q1. Although the bulls are working hard to validate a V-shaped recovery, the bears are successfully dragging the levels below $100 and have kept the price restricted within the range. The current chart pattern could appear bullish, but in the wider timeframe, the LTC price appears to be primed for a major pullback.
The LTC price has remained stuck within a rising parallel channel for over a few years, after triggering a rebound from the 2022 bear market. The token has been trying to breach above the average band of the channel for over a couple of weeks, but the bearish start for the week flashes bearish signals. The 50/200-day MA is failing to initiate a Golden cross while the DMI is heading towards a bearish crossover. Therefore, the Litecoin price is feared to drop back close to $75 if the token fails to trigger a rebound.
