LTCUSD bear case grows

Litecoin has failed to receive buying interest above the $50.00 resistance level, placing the emphasis on further downside. With the broader cryptocurrency market remaining under pressure, traders should be aware that a quick drop towards the $36.00 level could occur. Overall, only a sustained move above the $57.00 resistance level can change the short-term prospects for the LTCUSD pair.

• If the LTCUSD pair trades above the $50.00 level, key resistance is found at the $57.00 and $66.00 levels.
• If the LTCUSD pair trades below the $50.00 level, key support is found at the $44.00 and $36.00 levels.