Litecoin appears to be gearing up for a major directional move as a number of the top altcoins start to follow Bitcoin higher once again. Technical analysis shows that the LTCUSD pair could surge higher if the $63.00 resistance area is overcome in the short-term. Lower time frame analysis highlights that the LTCUSD pair could post double-digit gains if price breaches the $63.00 level.
The LTCUSD pair is only bullish while trading above the $57.00 level, key resistance is found at the $63.00 and the $70.00 levels.
If the LTCUSD pair trades below the $57.00, sellers may test the $53.00 and $50.00 support levels.