Litecoin is consolidating around the neckline of a bearish head and shoulders pattern as traders await technical confirmation that a strong down move is about to take place. Continued weakness under neckline support could see the LTCUSD pair falling towards the $60.00 level. Overall, weakness in the altcoin space and Bitcoin is required to trigger the expected move lower.
The LTCUSD pair is only bullish while trading above the $77.50 level, key resistance is found at the $82.50 and the $85.00 levels.
If the LTCUSD pair trades below the $77.50, sellers may test the $65.00 and $60.00 support levels.
