LTCUSD watching $40.00
Litecoin is under heavy selling pressure on Tuesday, following the recent bearish breakdown in the price of Bitcoin. Short-term technical analysis points to a heavy decline in the LTCUSD pair if the $40.00 support level is broken. Traders should expect a strong medium-term decline in the LTCUSD pair if the $36.50 level is breached.
The LTCUSD pair is only bullish while trading above the $45.00 level, key resistance is found at the $50.00 and the $55.00 levels.
If the LTCUSD pair trades below the $45.00, sellers may test the $40.00 and $36.50 support levels.