Litecoin May Drop to $39 Low as It Faces Rejection at $48 Resistance

[Galaxy]

Yesterday, LTC faced strong rejection as buyers partially pushed prices above the $48 resistance. The coin reached a high of $48.50 and suddenly dropped to $45.25.

Today, Litecoin is trading above $45 but it is confined between $41 and $48 price levels. The altcoin upward moves have been repelled by selling pressure in recent times. 

The market is still falling as a result of the rejection at the $48 high. Possibly, a fall to the lower price range will attract another rebound at the recent low. This will enable the coin to retest the $48 resistance. Litecoin will resume upside momentum if the price breaks the current resistance and the momentum extends above a $51 high. Otherwise, the bears may break the $41 low, if the support fails to hold. The resultant effect is a fall to $39 low.
Info link: https://coinidol.com/litecoin-may-drop/