Litecoin turned lower off the upper boundary of the long-term trend channel, and it’s now testing the $64 support/resistance level again. As the coin is still deeply in overbought territory, more correction should follow in the coming weeks, with targets at $60, $56, and $51, with the $56 line being the most likely candidate, as the 61.8% Fibonacci retracement is also near the area.
Hope we go to $56 as that would be beautiful technical signal to go long and also the completion of a mature healthy correction. But will we? That is the question of the hour.