Litecoin is attempting to stabilize alongside the broader cryptocurrency market on Wednesday as the $40.00 support level continues to hold firm. Technical analysis shows that the LTCUSD pair may recover back towards the $50.00 level if the $45.00 level is overcome. To the downside, a break under the $36.50 support level could signal a major new bearish trend for the LTCUSD pair.
The LTCUSD pair is only bullish while trading above the $45.00 level, key resistance is found at the $50.00 and the $55.00 levels.
If the LTCUSD pair trades below the $40.00, sellers may test the $36.50 and $30.00 support levels.
