Litecoin has managed to stage a fairly weak recovery as traders still remain uncertain towards the short-term direction of the major altcoins. Technical analysis highlights that a drop towards the $55.00 to $50.00 area is still possible before a major recovery takes holds. Higher time frame analysis shows that the overall bullish trend remains valid while the LTCUSD pair trades above $46.00.
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 $55.00 and $50.00 support levels.
