Litecoin has remained under heavy selling pressure as the new trading week begins with price slumping below the $40.00 support level
. The LTCUSD
continues to exhibit bearish
trading momentum, after buyers recent failure to move price above the $43.00 resistance level
. A clear breach of the $38.60 level exposes further downside in the LTCUSD
pair towards the $33.00 support level
pair is strongly bearish
while trading below the $43.00 level, key support is found at the $38.60 and $33.00 levels.
If the LTCUSD
pair trades above the $43.00 level, buyers are likely to test towards the $45.00 and $47.50 resistance levels.