LTC / USD: Struggle against critical resistance

Recently, the price of Litecoin (LTC) has dropped to 55 US dollars. The price for the pair LTC / USD was approximately $ 54.36 before it started moving up.

The graph shows that the price of Litecoin has risen above the level of 58 US dollars and a downtrend line with a resistance level of 55.50 US dollars. There was also a break above 23.6% of Fibonacci and the last drop from max – $ 63.76 to $ 54.36.

At the same time, the buyers were not able to keep the price above $ 60 and 100-hour SMA. Then the price for a pair of LTC / USD began to trade below the level of 58 US dollars. In general, the price may decrease towards support at $ 55, and then even lower – to a level of $ 52.

It seems that the price for Litecoin (LTC) has faced quite a tough resistance near the levels of 59.50 and 60.00 US dollars. To increase the growth simply need a breakthrough to the level of $ 62.00. At the same time, for buyers, the main support is at 55 and $ 54.50 US dollars.

In the event that the price is higher than $ 55, there is every chance to overcome the barrier of $ 60.

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