Litecoin Breakout

Litecoin has broken out past highs at $55.84, a level that was providing strong resistance for the past month. We have broken out into the high $50's, with $61.75 the next target. If the rally in stocks can continue, and the dollar remains softer, we could easily hit this target today or tomorrow. A retracement could take us back to support at the base of the $50 handle so be careful.