Litecoin Dips into the $50's

Litecoin retraced hard with the rest of the crypto market. We were able to establish $64.37, a relative highs, resistance level, and the target we announced at the beginning of this month. We noted that it was likely to see strong resistance here and that is exactly what we are seeing. We rejected $64.37 hard, and plummeted back into the $50's, currently in the mid $58's at the time of this writing. We are in the middle of the vacuum zone between $55.84 and $61.75. The lower bound should provide support, and it will take strong momentum to break through the upper bound of this range again.