Litecoin has started to make a technical correction lower after the cryptocurrency reached the overall bullish objective of the inverted head and shoulders pattern. The broader cryptocurrency market is also under slight selling pressure on Tuesday, following Monday’s heavy sell-off. Overall, bulls must defend the $39.50 level to retain the pairs short-term bullish trading bias.
The LTCUSD pair is bullish while trading above the $39.50 level, key technical resistance is now found at the $46.00 and $51.00 levels.
If the LTCUSD pair trades below the $39.50 level, key support is found at the $36.00 and $33.00 levels.
