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Recent analysis has suggested that the digital asset is currently in a bullish trend as it aims to break out at $ 51.70, analysts has however predicted that the cryptocurrency faces rejection at $52.45 as the bulls seem to be losing momentum.

The digital currency had started the day trading at a value of $51.26 and slowly projected upwards to reach a high of $51.70. The cryptocurrency then corrected lower to trade at $51.20 but found support at this level as it rebounded to its current price of $51.70.

The cryptocurrency has continued to increase by 1.29 percent over the last 24 hours and currently trades above the $51 bench mark.

Observations from the daily chart for Litecoin price analysis reveals that the digital asset has continued its strong uptrend in the last 24 hours as it looks to continue its bullish momentum,  the cryptocurrency has seen its prices pushed up to $51.70 and resistance for the coin stands at $52.45

Bears have been unable to move prices lower, and a breakout above $52.45 could see Litecoin prices target the $55 level.

What to expect from this

The price analysis clearly shows that the bulls are in total control of the market with stakes high that the market will move higher. Chart indications suggest a bullish breakout which is likely to happen in the near future.

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