Litecoin reached $55 and, unable once again to break through this strong resistance, regained its last week’s level. It is now traded at $52.
For LTC, we observe bearish moods, with sales slightly exceeding purchases.
A movement to the $42 to $45 support range is a very likely scenario, especially if Bitcoin shows local correction signs. An alternative investors might return to LTC as a hedge asset. In this case, we might see rapid exit from the the past few weeks’ trading zone towards the $65 level. A break through the resistance zone on increased volumes will be one of the indicators.