Litecoin Stabilizes in the Mid $50's

Litecoin has retraced from the mid $60's, but has found good support just above our level at $55.84. We are seeing good support from this level, and are currently ranging between this and $59. We have not gotten the follow through to reestablish the $60's, but a burst of momentum could take us back to $61.75, where we are sure to meet resistance. If we retrace past support at $55.84, there is a vacuum zone to $51.92, where we are sure to see further support.