LTCUSD TECHNICAL BREAK BELOW THE $45.00 LEVEL

The LTCUSD pair is under heavy downside pressure for a second consecutive day, with the seventh largest cryptocurrency by market capitalization now trading below the $50.00 level. A clear break the $45.00 support level will trigger a bearish head and shoulders pattern with a downside projection of over $20.00. Sellers will attempt to break the bearish pattern neckline, at $45.00, while buyers need to stabilize the LTCUSD pair above the $56.00 level.

The LTCUSD pair is strongly bearish while trading below the $50.00 level, key support is found at the $45.00 and $40.00 levels.

If the LTCUSD pair moves below the $50.00 level, buyers may test towards the $54.80 and $56.00 resistance levels.