Litecoin is under heavy downside pressure on Wednesday, as the popular cryptocurrency fast approaching the $70.00 support level. Technical analysis shows that a breakout below the $70.00 level could cause the LTCUSD pair to fall towards the $55.00 area. To the upside, bulls need to hold the LTCUSD pair above the $80.00 resistance level to encourage the next upside breakout.
The LTCUSD pair is only bullish while trading above the $80.00 level, key resistance is found at the $90.00 and the $110.00 levels.
If the LTCUSD pair trades below the $80.00, sellers may test the $70.00 and $55.00 support levels.
