Litecoin price analysis: LTC/USD consolidates in a flag formation, getting primed for a breakout

Litecoin price analysis: LTC/USD consolidates in a flag formation, getting primed for a breakout

The MACD indicates increasing bearish market momentum. The RSI indicator is trending around 44.25. LTC/USD had a bullish start this Wednesday, following two straight bearish days going up from $55.10 to $56. The price is currently sandwiched between the lower Bollinger curve and the 50-day Simple Moving Average (SMA 50).