LTCUSD fails at range top

Litecoin is starting to trade lower on Wednesday after buyers once again failed to break above the technically important $33.00 level. Technical indicators are starting to turn lower, which may signal that the LTCUSD pair is ready to test the bottom end of its trading range. A large head and shoulders pattern with a $10.00 downside projection is still valid on the four-hour time frame.

• The LTCUSD pair is only bullish while trading above the $33.00 level, key resistance is found at the $36.00 and $40.00 levels.

• If the LTCUSD pair trades below the $28.00, sellers may test towards the $25.00 and $18.00 support levels.