Litecoin Makes a Run for the Mid $50's

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Litecoin pivoted off lows with $51.92 providing support, as anticipated. We made a run for higher levels, with an upside target of $55.84, but have run out of steam just below this level. Several red triangles on the KRI seem to indicate that LTC is running into resistance. If are able to continue the rally then $55.84 is sure to provide resistance. We are likely to retrace back to support at $51.94, with $50.64 a likely floor.