LTCUSD watching neckline resistance

Litecoin remains vulnerable to further losses over the medium-term as many of the top altcoins continue to come under selling pressure. The daily time frame shows that the LTCUSD pair is trading under the neckline of a bearish head and shoulders pattern. A sustained break under the $38.00 support level may see traders increasing bearish bets towards the LTCUSD pair.

• The LTCUSD pair is only bullish while trading above the $45.00 level, key resistance is found at the $50.00 and the $55.00 levels.

• If the LTCUSD pair trades below the $40.00, sellers may test the $38.00 and $36.00 support levels.