Litecoin Rejects the Mid $50's

Litecoin briefly spiked up in price falling just short of $55.84. We saw immediate resistance just below this level confirmed by red triangles on the KRI. We have fallen back to support at $51.92, and $50.64. If these levels fail to provide support and we give up the $50's, then there is a vacuum zone below to $45.48, which is the next level of support. The Kovach OBV is quite bearish, so we do not expect any significant rallies. watch for 'bull traps'. We can expect $55.84 to hold as a ceiling.