Litecoin has been struggling to regain bullish moments this week as the seventh-largest cryptocurrency consolidates around the $40.00 level. A bearish head and shoulders pattern on the lower time frames is warning of a potential $10.00 move in the LTCUSD pair. A reversal back above the $47.00 level would invalidate the pattern and could spark a rally towards the $57.00 level.
The LTCUSD pair is only bullish while trading above the $40.00 level, key resistance is found at the $47.00 and the $57.0 levels.
If the LTCUSD pair trades below the $40.00, sellers may test the $36.50 and $30.00 support levels.
