Litecoin’s price tumbled by 0.60% to $58.020 on Wednesday

Litecoin manages an increase of almost 1.3% over the last past week LTC is seen trading at $54.89.

LTC Price breaks above the resistance level, holding the price when a trend is higher, Coin telegraph spoke with the managing director of Litecoin, Alan Austin, about what he thinks Litecoin’s utility is reliable means of payment.

Austin told “Much of his vision for Litecoin is made from personal experience”

The pair of LTC/USD could recover soon but it might be limited above $58 and $60 levels. LTC price continued to drop if there is no big move happened in LTC some experts say that move should be above $58.

$54.80 and $55.00 levels are the resistance level for Litecoin and the downtrend is formed with resistance near $55 on the 4-hour chart frame of LTC/USD.

The development of Litecoin’s resulted in the creation of Lightning and Atomic Swaps this development suggests that the Litecoin price might rise soon.

On technical fronts, Litecoin’s RSI stood at 47.664, and currently, it is trading above all SMA except MA (20), so a BUY position can be taken with the following target and stop-loss

Trade signal: BUY AT 58.020, TAKE PROFIT AT 60.000, and STOPLOSS AT 57.800