LTCUSD BEARISH BIAS STILL INTACT
Litecoin remains under downside pressure below the $30.00 level, as the entire cryptocurrency continues to suffer from a lack of buying demand. A bullish inverse head and shoulders pattern is still visible across the lower time frames, although price continues to drift towards the key $27.00 support level. The momentum indicator on the four-hour time frame is also showing a bearish head and pattern may be emerging.
The LTCUSD pair is bearish while trading below the $30.00 level, key support is found at the and $27.20 and $25.00 support levels.
If the LTCUSD pair moves above the $30.00, buyers may test the $35.00 and $40.00 resistance levels.