Litecoin is once testing towards its 200-day moving average after dip buyers moved in from the $43.00 support area last week. Technical analysis highlights that if bulls can overcome the $47.00 resistance level then the LTCUSD pair could rally towards the $53.00 level. To the downside, failure to overcome the $47.00 level could result in a major sell-off towards the $40.00 level.
The LTCUSD pair is only bullish while trading above the $47.00 level, key resistance is found at the $50.00 and the $53.00 levels.
If the LTCUSD pair trades below the $47.00, sellers may test the $43.00 and $40.00 support levels.
