LTCUSD Hits resistance

Litecoin has rallied towards the $57.00 area, as the recent breakout above the psychological $50.00 level continues to gather pace. Technical analysis shows that the $60.00 level offers the strongest form of resistance for the LTCUSD pair above the $57.00 level. Failure to rally price above the $57.00 level could cause the cryptocurrency to reverse back towards the $52.00 area.

• The LTCUSD pair is only bullish while trading above the $50.00 level, key resistance is found at the $57.00 and the $60.00 levels.

• If the LTCUSD pair trades below the $50.00, sellers may test the $48.00 and $46.00 support levels.