LTCUSD Bear Case Grows

Litecoin has failed to receive buying interest above the $50.00 resistance level, placing the emphasis on the further downside. With the broader cryptocurrency market remaining under pressure, traders should be aware that a quick drop towards the $36.00 level could occur. Overall, only a sustained move above the $57.00 resistance level can change the short-term prospects for the LTCUSD pair.

If the LTCUSD pair trades above the $50.00 level, key resistance is found at the $57.00 and $66.00 levels.

If the LTCUSD pair trades below the $50.00 level, key support is found at the $44.00 and $36.00 levels.

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Octa (formerly OctaFX) is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 40 million trading accounts.

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