Litecoin appears increasingly bearish in the short-term as traders continue to sell any rallies above the $60.00 resistance level. Litecoin is also falling to rallying alongside Bitcoin and is starting to form a bearish head and shoulders pattern on the lower time frame. The LTCUSD pair may need to fall back under the $50.00 level to attract fresh technical buying interest towards the $60.00 level.
The LTCUSD pair is only bullish while trading above the $55.00 level, key resistance is found at the $60.00 and the $63.00 levels.
If the LTCUSD pair trades below the $55.00, sellers may test the $51.00 and $48.00 support levels.
