Litecoin still risks further downside losses this week following the recent bearish reversal from the $ 48.00 resistance area. Technical analysis shows that persistent weakness below the $ 42.00 level should be considered bearish for the LTCUSD pair. A head and shoulders pattern on the lower timeframes also shows that a breakout below the $ 37.00 support level can trigger major losses.
The LTCUSD pair is only bullish while trading above the $ 45.00 key resistance is found at $ 48.00 and $ 50.00 levels.
If the LTCUSD pair trades under $ 45.00, sellers can test the support levels of $ 37.00 and $ 32.00.