LTCUSD reversal underway

Litecoin is starting to move back above the $40.00 level as the recovery in the cryptocurrency from the $36.00 support level starts to gather pace. Market sentiment towards Bitcoin is also starting to improve, further encouraging traders to buy the sixth largest cryptocurrency. In the short and medium-term traders are now looking to buy any technical pullbacks in the LTCUSD pair.

• If the LTCUSD pair trades above the $40.00 level, key resistance is found at the $45.00 and $50.00 levels.

• If the LTCUSD pair trades below the $40.00 level, key support is found at the $38.00 and $36.00 levels.