Can Litecoin Hold the $50's?

A stronger dollar and hawkish Fed outlook has impacted the crypto market across the board, with Litecoin plummeting from the $60's. We appeared to have good support there for quite some time, but $61.75 proved to be prohibitive, and we caved through to lower levels. We have been highlighting $55.84 as a lower bound for weeks now, and sure enough, this is the exact level at which we are finding support. If we can pivot, then $61.75 will likely be the next target. If we plummet further, watch for support at $51.92.