Litecoin is following suit after a nice bullish move in Bitcoin the last few days.
Volume is picking up, with increased demand on the buyer side driving the price up to levels not seen in over two weeks.
Litecoin may break through the resistance at around $57 and establish a new support zone above the previous trading range.
It could instead be rejected at this level, but the OBV and chart in general looks good. This gives me confidence that it may break through this time.
If it breaks out, look for possible new resistance around 63-64 USD, but also the possibility that momentum could propel it through this level and not meeting any solid resistance until at around 68-70 USD (before being rejected, likely).
Let's see how it plays out over the next few weeks.
My five cents: be ready to take profit once the Bitcoin forks happen.
Link to my LTCUSD chart on TradingView:
https://www.tradingview.com/chart/LTCUSD/mtAc6PEP-Litecoin-is-in-Demand-Again/
