Litecoin is starting to gain upside momentum on Tuesday after finding strong support from the $49.00 level. Buyers must keep price above the $49.00 level, which represents the neckline of a bullish inverted head and shoulders pattern. Overall, the size of the bullish reversal pattern suggests that the LTCUSD pair could rally towards the $59.00 level.
The LTCUSD pair is bullish while trading above the $49.00 level, key resistance is found at the $55.00 and the $59.00 levels.
If the LTCUSD pair trades below the $49.00, sellers may test the $47.00 and $43.00 support levels.
