Litecoin is back under downside pressure beneath the $50.00 level on Tuesday after losing over five percent of its market value on Monday. LTCUSD buyers need to reclaim the $51.98 level to regain short-term bullish momentum, while sellers need to keep price below the psychological $50.00 level to ensure further losses. It is worth noting that the MACD indicator across the one-hour time frame is now in oversold territory and a bullish inverted head and shoulders pattern has been created across various lower time frames.
The LTCUSD pair is intraday bearish while trading below the $50.00 level, key support is found at the $47.25 and $45.00 levels.
If the LTCUSD pair trades above the $51.98 level, buyers may move price back towards the $54.50 and $57.00 resistance levels.
The LTCUSD pair is intraday bearish while trading below the $50.00 level, key support is found at the $47.25 and $45.00 levels.
If the LTCUSD pair trades above the $51.98 level, buyers may move price back towards the $54.50 and $57.00 resistance levels.
