Litecoin price had recently one of the most stable performing development out of the top-ten cryptocurrencies leading by market capitalization. LTC/USD is on the ‘step-door’ for a major change in its value and trading to settle.
Until recent news took-wings to spread out about the Chinese authority crackdown on the exchanges and the regulation to be done, Litecoin (as its known) had a very stable increasing trading ground reaching close to $57.
In a short amount of time, after climbing to $55-$57, two sessions of attempts to break above the major resistance level $60 were experienced but with no luck.
The recovery rally in a constant trading route has created long-running and short term supports to hoist and keep the price up above any break lower. If the market trend continues in the positive return from the drop, Litecoin will most likely to be following as it broke once above a bearish trend on the hourly chart.
For any plans on trading, keep in mind that the pair LTC/USD could remain between $45-$57 for some time before leaving or any major breakthrough.
Concluding from that, respecting and taking notes of any spike or major clear above $60 or below $45 should be considered before trades are put into action.