Litecoin Makes Positive Moves, Overruns the Resistances at $48 and $51

[Galaxy]

Litecoin bulls have overrun the crucial resistance levels of the coin. Buyers have broken the price levels of $48 and $51 which have poised initial resistance to price movement.

There is a certainty of price movement on the upside. The altcoin is expected to reach a high of $63 if the current bullish momentum is sustained.

Nonetheless, the bulls will not have an easy ride as sellers may interrupt price movement at the resistance zones. However, if buyers turn from the resistance zone and price retraces below the $50 low, the coin will fall into the bearish trend zone. This will increase the chances of a further downward move. The coin will drop again to $43 low. Today, LTC is trading at $56 at the time of writing.
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