From the midpoint of the range, Litecoin has declined to the bottom of the range of $49.466–$69.279. A break of the support can resume the downtrend and push the price towards the next support at $40.
The bulls are currently trying to bounce from close to the $50 mark. $60 will continue to act as a resistance on the upside.
The LTC/USD pair will show strength if it can sustain above $69.279. Until then, volatile trading inside the range is likely.
The aggressive investors can wait for today’s close and buy a small quantity with the stops below $47. A conservative investor should wait for the break out of the range before attempting a buy.