Litecoin is still at risk of further downside losses this week, following the recent bearish reversal from the $48.00 resistance area. Technical analysis shows that sustained weakness under the $42.00 level should be considered bearish for the LTCUSD pair. A head and shoulders pattern on the lower time frames is also showing that a breakout under the $37.00 support level could trigger heavy losses.
The LTCUSD pair is only bullish while trading above the $45.00 level, key resistance is found at the $48.00 and the $50.00 levels.
If the LTCUSD pair trades below the $45.00, sellers may test the $37.00 and $32.00 support levels.
