Litecoin at the Base of the Range

Litecoin has equilibrated, tending to the lower bound of the range it has been holding for the past month. This lower bound was breached as CPI data on Thursday rocked the entire crypto market. Incredible volatility was introduced but we were quickly able to reestablish equilibrium. We are currently seeing support at $50.64, which is the final technical level in the $50's. We are likely to see further resistance from $51.92, but if we can break through that, we will recover the range between these two lower levels and $55.84, which we anticipate will hold as an upper bound.