LTCUSD WATCHING $50.00 LEVEL

Litecoin is starting to test higher on Friday, with the seventh largest cryptocurrency by market capitalization probing towards the $50.00 resistance level. If buyers can move price above the $50.00 level, the LTCUSD pair will then move back inside its former trading range. Technical rejection from the $50.00 level may provoke technical selling in the LTCUSD pair towards the $46.50 support level.

The LTCUSD pair is only intraday bearish while trading below the $50.00 level, key technical support is now found at the $48.80 and $46.50 levels.

If the LTCUSD pair trades above the $50.00 level, intraday buyers may test towards the $53.00 and $55.50 resistance levels.