Litecoin has seen plenty of action at the $50 level over the past year. It has served as a pivot point on several occasions and we find price flirting with this level again.
Breakout or Bounce Down
Looking at the chart you can see the support/resistance line drawn near $50. Price is battling with it now and we would need to see a price close on the daily chart above $51 to consider that level breached. If that occurs than there is upside to $60.
On the flip side if price fails to breach the level than we have downside risk back down to the prior low around $40.