LTCUSD awaiting technical breakout
Litecoin is consolidating towards the middle of its weekly trading on Friday, as the popular digital currency remains resilient despite the broader cryptocurrency coming back under selling pressure. A clear technical breakout from the $28.00 to $33.00 price range is now needed for a new short-term trend to emerge. A bearish head and shoulders pattern is still visible on the lower time frames, with a downside projection of over $10.00.
The LTCUSD pair is bearish while trading below the $28.00 level, key support is found at the $25.50 and $20.00 levels.
If the LTCUSD pair trades above the $33.00, buyers may test the $36.00 and $40.00 resistance levels.