LTCUSD bearish pattern forming

Litecoin is struggling for direction in early Thursday trade, with the sixth largest cryptocurrency failing to move higher despite numerous short-term upside attempts. The one-hour time frame is currently showing that a bearish head and shoulders pattern has formed. LTCUSD buyers now need to move price above the $80.00 resistance level to invalidate the bearish price pattern.

• The LTCUSD pair is only bullish while trading above the $70.00 level, key resistance is found at the $80.00 and $99.00 levels.

• If the LTCUSD pair trades below the $70.00 level, key support is found at the $65.00 and $58.00 levels.