LTCUSD Waiting to breakout
Litecoin is trading with a cautious tone in early-Wednesday trade as the top altcoins are so far failing to follow Bitcoin higher. If the LTCUSD pair starts to follow Bitcoin higher then a rally towards the $57.00 level should be expected over the medium-term horizon. Technical analysis shows that a major breakout from a large triangle pattern will take place if Litecoin moves above the $52.00 level.
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.