Litecoin technical analysis: LTC/USD flirting with critical $40 mark

• Litecoin price is trading in the green in the session by some 1.15%.  
• LTC/USD is at risk of heading down to the next major area of support down at $20.  
• Rallies continue to be sold given the stubborn bearish trend of which Litecoin remains within.  

LTC/USD weekly chart

Price action is running at its sixth consecutive week in the red, a lack of signage this will change anytime soon.  

LTC/USD daily chart

Earlier in the week, LTC/USD smashed before critical support at $40, now likely to prove as resistance.  

Spot rate:                   40.19

Relative change:       +1.15%

High:                           40.42

Low:                           39.35