LTCUSD bulls targeting $50.00

Litecoin is under mild selling pressure on Tuesday after cryptocurrency traders started to book profits from the $45.00 region. The LTCUSD pair may continue to trade higher, as the bullish inverted head and shoulders pattern seen on the lower time frame has an upside projection close to the $50.00 level. Overall, short-term bulls are in charge of the LTCUSD pair while price trades comfortably above the $36.00 level.

The LTCUSD pair is bullish while trading above the $36.00 level, key technical resistance is found at the $50.00 and $55.00 levels.

If the LTCUSD pair trades below the $36.00 level, key support is found at the $34.50 and $33.00 levels.