Despite the growth of BTC, Lightcoin slightly decreased this week. At the time of writing, altcoin was quoted at $ 51.55 per coin, $ 1.16 less than last Tuesday. As a percentage, this is 2.2%.
While the pair LTC / USD rose for a short time above the local high of $ 57.28, the upward movement ended at $ 57.32. This means that the downtrend is still in force. As usual, we expect a decisive breakdown of these levels, rather than a short-term insignificant jump.
The double top at the level of $ 57.28 - $ 57.32 is now the key to observation. The breakdown above in this case will complete the bearish trend on the daily charts. Movement above the level of $ 63 may be the beginning of a new price rally.
On the way down, potential support is at the round figure of $ 50, followed by local minimums of $ 44.47 and $ 40.74. A break below $ 40 could open the way to a drop to a minimum of $ 32.35. On weekly charts, the LTC / USD pair is still in range. Monthly charts look bullish.