LTCUSD upside correction pauses

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Litecoin has moved back under the $30.00 level after finding strong technical resistance from the $31.50 level on Wednesday. Before correcting under the $30.00 handle, the LTCUSD pair had gained close to thirty per cent in market capitalization since opening the new trading week around the $24. 40 level. The MACD indicator on the four-hour time is starting to correct lower, LTCUSD traders are likely to test intraday demand around the $27.90 level.

The LTCUSD pair is bullish while trading above the $27.90 level, key resistance is now found at the $30.00 and the $31.50 levels.

If the LTCUSD pair moves below the $27.90, sellers may test the $25.50 and $24.00 support levels.