Litecoin has found strong resistance from just above the $62.00 level, after performing a bullish
technical break higher in early week trade. If buyers fail at current levels the LTC/USD pair may start to decline towards the breakout area, which is located around the $58.00 level. Traders should also note that the LTC/USD pair may be forming a bearish head and shoulders
pattern across the four-hour time frame.
pair is only intraday bullish
while trading above the $58.00 level, key resistance is found at the $62.00 and $65.00 levels.
If the LTCUSD
pair moves below the $58.00 level, sellers may test towards the $56.20 and $55.00 support levels.