March 6, OctaFX – Litecoin price has moved sharply higher on Wednesday, with the fifth largest cryptocurrency moving to its highest trading level since November last year.
Litecoin price analysis
If bulls can break above the $54.00 resistance level, the LTCUSD pair could rally towards the $65.00 region. Traders should note that a large inverted head and shoulders pattern is building on the four-hour time frame.
The LTCUSD pair is bullish while trading above the $39.50 level, key technical resistance is now found at the $54.00 and $65.00 levels.
If the LTCUSD pair trades below the $39.50 level, key support is found at the $36.00 and $33.00 levels.
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