Litecoin is under heavy selling pressure on Friday after suffering a strong technical rejection from just below the $80.00 level earlier this week. Continued weakness below the $67.50 level should see the LTCUSD pair declining towards the $60.00 level. A bearish head and shoulders pattern across the lower time frames is currently warning of more short-term losses ahead for the pair.
The LTCUSD pair is only bullish while trading above the $77.00 level, key resistance is found at the $82.50 and the $85.00 levels.
If the LTCUSD pair trades below the $77.00, sellers may test the $65.00 and $60.00 support levels.
