Litecoin is starting to weaken in the near-term, following a heavy technical rejection from the $51.00 level over the weekend. Technical analysis shows that bulls need to break above the $52.50 level to form a large bullish reversal on the lower time frame. Overall, the LTCUSD pair can still stage a recovery towards the $57.50 level if price holds above the $43.00 level.
The LTCUSD pair is only bullish while trading above the $51.00 level, key resistance is found at the $52.50 and the $57.50 levels.
If the LTCUSD pair trades below the $51.00, sellers may test the $45.00 and $43.00 support levels.
