LTCUSD Correction likely
Litecoin is starting to test back towards the $50.00 level after finding strong technical resistance from down slopping trendline resistance. Short and medium-term LTCUSD traders are likely to buy into price dip towards the $47.00 to $45.00 technical support zone. Lower time frame analysis shows that the LTCUSD pair is currently trapped within a bullish falling price channel.
The LTCUSD pair is only bullish while trading above the $47.00 level, key resistance is found at the $52.00 and the $57.00 levels.
If the LTCUSD pair trades below the $47.00, sellers may test the $45.00 and $43.00 support levels.