Litecoin is testing lower in early Wednesday trade after the fifth-largest cryptocurrency was heavily rejected from the $80.00 resistance level
. A sustained break of the $70.00 support level
is likely to see the LTCUSD
pair to fall towards the $60.00 level. Overall, despite being oversold the LTCUSD
pair has yet to attract buying interest, which points to a possible deeper decline.
pair is only bullish
while trading above the $100.00 level, key resistance is found at the $110.00 and $120.00 levels.
If the LTCUSD
pair trades below the $70.00 level, key support is found at the $65.00 and $60.00 levels.