Litecoin remains in a vulnerable technical position, with the cryptocurrency threatening a deeper decline if the $50.00 support level is broke. The LTCUSD pair is trading below the neckline of a head and shoulders, with the $36.00 level the medium-term target. LTCUSD bulls need to rally the pair above the $66.00 level to encourage traders to move back into short-term long positions.
• If the LTCUSD pair trades above the $50.00 level, key resistance is found at the $66.00 and $73.50 levels. • If the LTCUSD pair trades below the $50.00 level, key support is found at the $44.00 and $36.00 levels.