March 12, OctaFX – Litecoin is attempting to recover bullish momentum, after coming under slight downside pressure in early week trading.
Litecoin price analysis
The fourth-largest cryptocurrency by market capitalization needs to break above the $54.00 level in order to encourage further technical buying. If the LTCUSD pair trades under the $50.00, sellers will likely test towards the cryptocurrencies former weekly trading low.
The LTCUSD pair is bullish while trading above the $50.00 level, key technical resistance is found at the $54.00 and $65.00 levels.
If the LTCUSD pair trades below the $50.00 level, key support is found at the $45.00 and $41.50 levels.
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