Though Litecoin has broken below the support at $49.466, the bulls are trying to defend the Sept. 12 intraday low of $47.166. If this level breaks, a fall to $40 is possible.
If the LTC/USD pair bounces from the current levels, it will face resistance at the moving averages, which are trending down, and the downtrend line of the descending triangle.
A break out of $60 will indicate the probability of a change in trend that will be confirmed on a close above $69.279. We shall wait for a new buy setup to form before suggesting a trade on the pair.