Litecoin has rallied to a new monthly high, due to the ongoing rally in Bitcoin and the bullish news that payment provider, PayPal. Technical analysis shows that a major technical breakout is in play while price trades above the $52.00 support level. Short-term LTCUSD bulls may test towards the $57.00 level, although the $60.00 resistance level could also be achieved.
The LTCUSD pair is only bullish while trading above the $50.00 level, key resistance is found at the $57.00 and the $60.00 levels.
If the LTCUSD pair trades below the $50.00, sellers may test the $48.00 and $46.00 support levels.
