The LTCUSD pair has finally picked a directional bias and moved to the downside, with the seventh largest cryptocurrency so far finding technical support just above the $46.00 level. The broader cryptocurrency is also moving lower while the MACD indicator on the four-hour time frame is also trending lower. Further intraday losses are likely while the LTCUSD pair trades below the former monthly low found at the $48.50 resistance level.
The LTCUSD pair is strongly intraday bearish while trading below the $48.50 level, key technical support is now found at the $45.00 and $42.00 levels.
If the LTCUSD pair trades above the $48.50 level, intraday buyers may test towards the $50.00 and $52.50 resistance levels.