Litecoin Still Struggling

24 May 2022

Litecoin has maintained a narrow range between $66.94 and $73.62. We did appear to be seeing a bull wedge forming, but momentum quickly dropped off as the rest of the crypto market stagnated. The lack of buying interest suggests we need another dump before buyers are enticed and $55.84 is a likely target if so. If we are somehow able to break out then $77.39 should provide immediate resistance. After that, there is a vacuum zone to $85.08, which should be considered a ceiling.