The strong selling pressure that has swamped Litecoin, pushes the price below $45.00 and the altcoin now has a bearish short-term and medium-term trading outlook as we can see in today’s Litecoin news.The four-hour time frame shows a clear bearish head and shoulders pattern still in-game while the daily time frame continues forming a bullish reversal pattern that is forming currently. Litecoin remains under strong selling pressure kicking the $45.00 price level after it has recently been rejected from the psychological $50 level. The LTC/USD pair has been one of the most bearish cryptocurrencies inside the top 10 by market cap over the past months since it lost about 70 percent of its value since its high in June.The technical analysis on the lower time frame shows that the altcoin could even suffer another decline towards the $36.00 support level before it starts a meaningful recovery. The four-hour time frame shows that there is a huge head and shoulders pattern forming with the overall downside target of the bearish pattern forming around the $36.00 level. The daily time frame charts prove that the pair is heading towards the $36.00 level and the price is moving towards a large falling wedge pattern with the bottom of the wedge staying around the very same level.The trend is right now quite bearish and recovery from the $36.00 level is quite possible as the falling wedge pattern is usually a reliable reversal catalyst. According to the looks of the wedge pattern, the LTC/USD pair could stage a recovery towards the $70.00 only if a bullish breakout forms out of the wedge pattern. The traders are waiting for the breakout of the upside of the wedge to occur and given the protracted downtrend to the LTC/USD pair that they find themselves in. the four-hour time frame shows that the key technical resistance is located at the $47.00 and $50.00 levels.The key technical resistance in the medium-term stands around $57 and 70 levels but the pair also has strong medium-term technical support close to the $40 and $36 levels. The critical long-term technical support for LTC is located at $30.

The major football club from the United States, the Miami Dolphins are officially accepting the Litecoin cryptocurrency for payments made for their sports fans' experiences. As an announcement showed, the team has partnered with Aliant Payments and the Litecoin Foundation.Meanwhile, an increasing number of sports teams have started using coins and associated betting platforms, offering their fans an enhanced experience. The updates show that this exposure to a larger audience helps them spread awareness, increase adoption and educate fans on the benefits of blockchain-based payments.The Litecoin news shows that for Miami Dolphins, the deal with Litecoin (LTC) will make it their official coin and provide it with in-game branding and advertising at the Hard Rock Stadium as well as online.Fans could also purchase 50/50 raffle tickets with Litecoin - of which half of them would go to the Miami Dolphins Foundation both online and at 14 kiosks as well as raffle stations. As of October, there were 46 reported Litecoin transactions at the then-most recent home game. When the partnership initiated this raffle, the proceeds jumped from averages of $72,000/game to $86,000.The CEO of Aliant Eric Brown hinted at the talks with several additional professional sports teams as he spoke at the October Litecoin Summit. He suggested several baseball, football and basketball teams and how they were ready to start accepting crypto assets. One of them were the heavy-handed hint of the "America's Team" known as the Dallas Cowboys.The NBA further has the Sacramento Kings going ahead of the pack. With their adoption of Bitcoin payments back in 2014 and the MLB's Los Angeles Dodgers hosting a crypto giveaway last fall, we could see that there are many innovators in the space. Still, it appears that US sports teams have been slower to adopt compared to sports organizations overseas.Aside from Miami Dolphins, the English Premier League is a place where crypto has a potential to shine. This September, the Bitcoin news showed that the BTC logo will appear on the sleeve of Watford FC as part of an educational drive led by the innovative sports betting site Sportsbet.io.

“This collaboration propels Litecoin in front of an audience of millions of people around the world at a time where adoption of cryptocurrencies continues to gain momentum and the ecosystem is able to support real-world use cases in ways previously not possible,” the head of Litecoin Foundation Charlie Lee recently said.

The latest cryptocurrencies news show that the entire market is in a state of a decline. The Litecoin technicals are what we are focusing on today and seeing that they are not in a good mood, we can conclude that the market has been dragged lower.However, it is actually Bitcoin which is dragging most of the market down. Litecoin declined heavily after it failed to climb above $46.50 and $48 but so did Bitcoin (BTC). We can see that there is a key declining channel which is forming at $45 which is now resistance for Litecoin (LTC), all while Bitcoin is down by around 3% in a new wipeoff as it struggles to stay above the $7,040 and $7,000 support levels.The past few days have been bad for the Litecoin technicals. The cryptocurrency mostly followed a bearish path below $50 and broke a couple of key supports near $46.50 - when the 100 hourly simple moving average entered a bearish zone.Later on, the price of the cryptocurrency made numerous attempts to surpass the $46.50 resistance area but it failed. As a result of it, there was another decline and the LTC price traded blow the $45.25 and $44.50 support levels.The recent low, as the Litecoin technicals show, was near $43.73 and the price is currently consolidating the losses. An initial resistance is near the $44.40 level and besides this, there are many other things which need improvement.As analysts noted, the Litecoin news now need to show an upside correction above $44.40 so that LTC could correct further towards the $45 area. This is how it represents the 50% Fib retracement level of the recent decline from the $46.19 high to $43.73 low.The next key resistance right now is near the $45.60 level and in addition to this, there is a key declining channel forming with resistance near $45.50 on the hourly chart of the LTC/USD pair. So, the Litecoin technicals must break through the $45 and $45.50 regions and at press time, $46.50 is still a major barrier for the bulls above which a strong rise can be expected.Conversely, the price of Litecoin is likely to continue lower below $43.75 and $43.50. An immediate support should be expected near the $42.20 level but the current price action suggests that the price could even test $40.40 or $40.

According to CoinMarketCap, there was a litecoin wash trading since all litecoin in circulation changed yesterday when about 93% of the coins were traded in one day. As pointed out by one crypto analyst, the problem with wash trading is only increasing and is getting hard to control so let’s see how we can prevent it in the following Litecoin News now.One of the most popular crypto analysts in the field Mati  Greenspan pointed out that the problem with Litecoin wash trading volumes on CoinMarketCap is a ‘’getting out of hand.’’ Looking at the numbers, things also look wrong. What is even more frustrating, seeing further we can see that there is a lot of trading volume for litecoin coming from fairly unpopular exchanges.This makes the notion of wash trading even more possible. The term Wash Trading refers to a process when someone buys and sells at the same time, one asset in order to feed fake information to the market. As was reported recently, recent studies show that 50 percent of all Bitcoins are also subject to wash trading. There are a lot of examples that could back the claims that a huge chunk of the market’s traded volume is a subject to wash trading.It is also not only these few cryptocurrencies that Greenspan pointed out that look heavily inflated. For example, Status is another one that looks sketchy since it has a market cap of about $37 million and trading volume over the past 24 hours of $183 million. Back in November, CoinMarketCap was under the radar for displaying wash traded volumes again but the website was supposed to introduce a new liquidity metric that addresses the same issues. However, there is a lot of room for development in this regard.As we reported earlier on DC Forecasts, the drop in price comes months after the Litecoin halving event and it raises the questions among the community if the network of this altcoin can be jeopardized easily if the LTC hash rate continues to drop. The hash rate is dropping violently over the past six months and the all-time high was reached in July but ever since then, it has been dropping continuously, noting the lowest value for 2019 a few days ago.