Litecoin Technical Analysis: LTC/USD rejects psychological resistance zone

• Like all the major cryptocurrencies on Wednesday LTC/USD has bounced back today.
• The digital silver is trading 5.76% higher today but hit resistance at 40.00.

LTC/USD 4-Hour Chart

Litecoin is performing well after a serious downtrend.

Now traders have hit a brick wall at the psychological 40.00 level.

Any serious break to the upside will take out the trendline on the chart.

If the bears take control of the market then 36.00 is the support to watch out for.

Volume is still stronger on the sell-side so keep an eye on any increase during a buying phase.

Additional Levels