Litecoin is trading close to the best levels of the year so far on Wednesday after the cryptocurrency reached the first bullish objective of the inverted head and shoulders pattern. The LTCUSD pair may advance towards the $55.00 region if buyers can break above the $49.50 resistance area. Alternatively, technically failure from current levels may prompt a deeper retracement back towards the $36.00 support level.
The LTCUSD pair is bullish while trading above the $39.50 level, key technical resistance is found at the $47.00 and $49.50 levels.
If the LTCUSD pair trades below the $39.50 level, key support is found at the $36.00 and $33.00 levels.
