Litecoin Price Analysis: LTC/USD bulls lose control with $55-50 critical support eyed

• Litecoin price is trading in negative territory by some 3.50% in the session on Thursday. 
• LTC/USD have lost momentum for now, as price retreats to critical demand zone. 
• The price is running towards its second consecutive session in the red. 

LTC/USD daily chart

There is a strong level of resistance noted at the $60 price mark via the daily. LTC/USD has not traded above this since mid-November. 

LTC/USD 60-minute chart

Hourly support can be observed at the $55 territory, failure to hold could prove to be punishing. 

Spot rate:                56.32         

Relative change:    -3.25%

High:                        58.39

Low:                         54.73