Litecoin is starting to correct lower after the eighth largest cryptocurrencies by market capitalization hit a new multi-month high, around the $69.00 area. Technical analysis shows that Litecoin could correct back towards the $56.00 area before the next major upmove resumes. To the upside, a breakout above the $69.00 level exposes further gains in the LTCUSD pair towards the $80.00 level.
The LTCUSD pair is only bullish while trading above the $56.00 level, key resistance is found at the $69.00 and the $80.00 levels.
If the LTCUSD pair trades below the $56.00, sellers may test the $53.00 and $50.00 support levels.
