Litecoin has reversed sharply lower from a new all-time high, around the $230.00 level, following a major pullback in the price of Bitcoin. The MACD indicator is starting to trend lower on the four-hour time frame, meaning that Litecoin could see more downside. The four-hour time frame also shows that a bearish head and shoulders pattern will also be activated if the LTCUSD pair falls beneath the $191.25 level.
The LTCUSD pair is only bullish while trading above the $165.00 level, key resistance is found at the $200.00 and the $200.00 levels.
If the LTCUSD pair trades below the $165.00, sellers may test the $155.00 and $135.00 support levels.
