LTCUSD breaking down
Litecoin is starting come under heavy technical selling pressure alongside the broader crypto market after falling beneath the $57.00 support area. Technical analysis shows that a head and shoulders pattern is warning of a coming price drop towards the $45.00 level. Bulls need to stabilize the LTCUSD pair above the $57.00 to avoid a steep price decline in the eight largest cryptocurrencies.
The LTCUSD pair is only bullish while trading above the $57.00 level, key resistance is found at the $60.00 and the $65.00 levels.
If the LTCUSD pair trades below the $57.00, sellers may test the $50.00 and $45.00 support levels.