LTCUSD neutral trading bias

Litecoin is struggling to move higher on the cryptocurrency market this week despite the ongoing powerful upside breakout in Bitcoin. Short-term technical analysis still indicates that the LTCUSD pair could rally towards the $58.00 area if the $50.00 level is breached. To the downside, sustained weakness failure below the $45.00 support level may cause LTCUSD traders to turn bearish and target the $36.50 level.

• The LTCUSD pair is only bullish while trading above the $45.00 level, key resistance is found at the $50.00 and the $58.00 levels.

• If the LTCUSD pair trades below the $45.00, sellers may test the $40.00 and $36.50 support levels.