Litecoin is continuing to move towards the $50.00 support level, as the recent reversal in Bitcoin has put the top altcoins back under selling pressure. Higher time frame analysis shows that the LTCUSD pair will turn technically bearish if a break under $48.50 level. The $48.50 level is important because that is the location of Litecoin’s trend-defining 200-day moving average.
The LTCUSD pair is only bullish while trading above the $55.00 level, key resistance is found at the $57.00 and the $60.00 levels.
If the LTCUSD pair trades below the $55.00, sellers may test the $48.50 and $45.00 support levels.