LTCUSD UNDER DOWNSIDE PRESSURE

Litecoin is starting to come under downside pressure after sellers forced price below the well-defined bear flag pattern. The LTCUSD pair also trades within a larger head and shoulders pattern, with the bearish pattern holding a $20.00 projected move. Intraday sellers will likely target the further losses below the $55.00 level, while buyers need to move price above the $60.50 resistance level.

The LTCUSD pair is bearish while trading below the $60.50 level, key support is found at the $55.00 and $48.00 levels seems possible.

If the LTCUSD pair moves above the $60.50 level, key resistance is found at the $64.00 and $68.50 levels.