April 24, OctaFX – Litecoin price is struggling to move higher on Wednesday, as the sixth largest cryptocurrency by market capitalization failed to rally alongside Bitcoin on Tuesday.
LTCUSD technical analysis
The LTCUSD pair is still trapped within a bullish descending triangle pattern on the daily time frame. Overall, the LTCUSD pair still has a bullish weekly trading bias above the $65.00 level, which is the neckline of the large inverted head and shoulders pattern.
The LTCUSD pair is only bullish while trading above the $65.00 level, key resistance is found at the $85.00 and $100.00 levels.
If the LTCUSD pair trades below the $65.00 level, key support is found at the $50.00 and $45.00 levels.
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