LTCUSD Downside risks increase
Litecoin is coming under pressure alongside other top altcoins, following a heavy technical rejection just below the $60.00 resistance zone. The intraday analysis shows that the LTCUSD pair could fall towards the $51.00 area if the $55.00 support level is broken. Traders should note that if Bitcoin falls below the $12,700 support level then widespread altcoin selling may take place.
The LTCUSD pair is only bullish while trading above the $51.00 level, key resistance is found at the $57.00 and the $60.00 levels.
If the LTCUSD pair trades below the $51.00, sellers may test the $51.00 and $45.00 support levels.