Litecoin Stuck in a Rut

Litecoin slipped by 0.12% on Saturday, following a 0.25% fall on Friday, to end the day at $51.54. It was a 5th day in a row that Litecoin ended the day at $51 levels and a 4th consecutive day in the red.

A particularly range bound day saw Litecoin fail to break out from $51 levels, a morning intraday high $51.82 and early afternoon intraday low $51.3 leaving the day’s major support and resistance levels untested, as volatility continued to ease off across the broader market.

At the time of writing, Litecoin was down 0.16% to $51.49, a particularly range bound start to the day seeing Litecoin’s $51.56 morning high and $51.34 morning low leave the day’s major support and resistance levels untested.

For the day ahead, a move back through the morning high and hold above $51.56 would support a run at the day’s first major resistance level at $51.81 to bring $52 levels and the day’s second major resistance level at $52.07 into play before any pullback.

Failure to move through the morning high would likely see Litecoin pullback through the morning low $51.34 to bring the day’s first major support level at $51.29 into play, with the day’s second major support level at $51.03 in play should the broader market see red through the day.