Description
⋅ Litecoin is moving towards key monthly support in early Tuesday trading, with the seventh largest cryptocurrency close to a heavy technical breakdown.
A move below the $70.80 support level should provoke heavy selling, as it represents the neckline of a large head and shoulders pattern.
Momentum is currently with sellers and we are seeing the entire cryptocurrency market once again under pressure.
The LTCUSD pair is strongly bearish while trading below the $70.80 level, key technical support is now located at the $68.00 and $65.50 levels.
If the LTCUSD pair holds above the $70.80 level, buyers may test towards the $73.00 and $74.50 resistance levels.