The LTCUSD pair is trading inside an increasingly narrow triangle pattern, with the seventh largest cryptocurrency poised for a directional breakout. The LTCUSD pair has so far failed to react to the news that Litecoin developers are set to cut transaction fees for the popular digital currency. Sellers will likely attempt to break the $48.00 level, while buyers will likely attempt to test the $55.00 level.
The LTCUSD pair is only intraday bearish while trading below the $50.00 level, key technical support is found at the $48.00 and $45.00 levels.
If the LTCUSD pair moves below the $51.00 level, buyers may test towards the $55.00 and $58.80 resistance levels.