Litecoin technical analysis: LTC/USD remains range-bound

• Litecoin defends s $50 support but movement north fails to break above $60 resistance zone.
• Litecoin stays between the 50 SMA on the one-hour chart resistance and the 100 SMA support.

Spot rate: $57.047

Relative change: +0.4055

Resistance: $60 and $80

Support: $55 and $50

LTC/USD daily chart

Litecoin is bullish according to the upward trend Relative Strength Index (RSI).

LTC/USD must break above the resistance at $60 for an upward correction to the supply zone at $80.

LTC/USD 240′ chart

Litecoin stays above the 100 Simple Moving Average (SMA) support giving way for a bullish trend towards $60.

$55 is coming count as key support likely to give way for higher movement in the near-term. Besides the RSI is holding ground above 50.

LTC/USD 60’chart

Litecoin immediate upside hindered by the descending trendline resistance.

A break above the short-term trendline is likely to give LTC a boost towards $60.