Litecoin is starting to appear more bullish in the near-term after the cryptocurrency recently found strong technical support from the $42.00 area. LTCUSD bulls could now challenge towards the $55.00 area if they are able to move price above the $50.00 level. A bullish pattern on the lower time frames is also projecting a potential move towards the $55.00 technical area.
The LTCUSD pair is only bullish while trading above the $51.00 level, key resistance is found at the $52.50 and the $57.50 levels.
If the LTCUSD pair trades below the $51.00, sellers may test the $43.00 and $36.00 support levels.