Litecoin has staged a bullish breakout, following a positive price close above key long-term trendline resistance on the daily time frame. LTCUSD bulls may be encouraged to test towards the $50.00 level while the price continues to hold above the $43.00 level. To the downside, a loss of the $43.00 level could see LTCUSD bears testing back towards the $40.00 technical support area.
The LTCUSD pair is only bullish while trading above the $43.00 level, key resistance is found at the $50.00 and the $55.00 levels.
If the LTCUSD pair trades below the $43.00, sellers may test the $40.00 and $36.00 support levels.
