Litecoin Price Forecast: Bearish sentiment builds as correction looms below $50

Litecoin is trading below $58 at the time of writing on Thursday. The near‑term bias is mildly bearish, as the price is being rejected near the 50-day EMA at $57.50.
The Relative Strength Index (RSI) on the daily chart is near the midline at 50 and pointing downward, indicating fading bullish strength. The Moving Average Convergence Divergence (MACD) line stays above the signal line and just above the zero mark, and the positive histogram, although modest, suggests fading bullish pressure.
Initial resistance lies at the nearby 50-day EMA at $57.80, with a horizontal barrier around $58.49 as the next upside level if buyers regain control.
On the downside, immediate support emerges at the 23.6% retracement near $54.47, protecting the lower zone ahead of the more distant horizontal support at $50.54. A daily close above $58.49 would strengthen the bullish bias toward $60.28, while a drop through $54.47 would expose $50.54 and suggest deeper weakness toward the February 6 low of $45.07.