Litecoin is trapped within a tight trading range on Wednesday as the Bitcoin and the broader cryptocurrency market is lacking a clear price trend. LTCUSD bulls need to move price above the $45.00 resistance level in order to encourage short-term technical buying. The bigger picture for the LTCUSD pair shows that a breakout from the $40.00 to $50.00 price range is required to form a new trend.
The LTCUSD pair is only bullish while trading above the $45.00 level, key resistance is found at the $50.00 and the $58.00 levels.
If the LTCUSD pair trades below the $45.00, sellers may test the $40.00 and $37.00 support levels.
