Litecoin is once again starting to firm above the $ 200.00 level, following a major upside reversal in Bitcoin back towards the $ 60,000 level. Lower time frame analysis shows that Litecoin is trading within a large triangle pattern, which is located between the $ 195.00 and $ 225.00 level. Watch out for a potential $ 30.00 breakout once the LTCUSD pair breaks free from the triangle pattern.
The LTCUSD pair is only bullish while trading above the $ 195.00 level, key resistance is found at the $ 225.00 and the $ 250.00 levels.
If the LTCUSD pair trades below $ 195.00, sellers may test the $ 180.00 and $ 170.00 support levels.