Litecoin has slipped back towards the $40.00 support level due to a strong technical sell-off in the broader cryptocurrency market. A bearish breakout below the $38.50 level could trigger heavy LTCUSD selling towards the $36.00, and possibly the $33.00 level. To the upside, LTCUSD bulls need to break above the $44.50 level to encourage technical buying towards the $50.00 level.
The LTCUSD pair is only bullish while trading above the $44.50 level, key resistance is found at the $50.00 and the $55.00 levels.
If the LTCUSD pair trades below the $44.50, sellers may test the $38.50 and $36.00 support levels.
