Litecoin has cleared the first hurdle of the downtrend line 1 but is struggling to break out of the 20-day EMA.
Once it breaks out of the 20-day EMA, it has another horizontal resistance at $141.026. The LTC/USD pair will turn bullish once it scales above $142.
On the upside, it will again face resistance at the downtrend line 2, which is at $165. Currently, we don’t have a good risk to reward ratio on the trade, hence, we are not proposing any trade on it.