LTCUSD Getting ready to move
Litecoin is trading inside an increasingly narrow price range on Wednesday, as the LTCUSD pair gets ready for a major directional move. Technical analysis shows that a major bullish breakout will take place if the LTCUSD pair starts to move above the $52.00 level. To the downside, a pullback towards the $47.00 to $45.00 area is likely to attract strong dip-buying interest.
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.