Litecoin: A Mountain of Resistance Still Stands in the WayLitecoin / TetherUSBINANCE:LTCUSDTDukesMarketAnalysisMajor Support Continues to Hold Litecoin is attempting to stabilise after its latest decline reached the June 2022 support around $40.30, with the recent low at $39.28. This remains an important multi-year level for bulls to defend. $50-$52 Is the First Major Obstacle Any sustained recovery faces significant resistance around $50-$52, an area that has repeatedly acted as both support and resistance over several years. Reclaiming this zone would be an important first step towards improving the longer-term picture. Further Resistance at $60.61 Even a successful move through $50-$52 would leave bulls facing another significant hurdle around $60.61. A firm break above both resistance areas would be needed to meaningfully weaken the broader bearish structure. Moving Averages Remain Bearish The 21/8-Week EMAs remain bearishly crossed and continue to act as resistance above price. RSI also remains below 50, although the rising StochRSI suggests some short-term momentum is beginning to return. In Summary Litecoin is attempting to recover from major multi-year support around $40.30, but bulls still face considerable resistance overhead. The $50-$52 zone represents the first major hurdle, followed by further resistance around $60.61, with the 21/8-Week EMAs also weighing on price. A firm break through these areas would improve the outlook considerably. Conversely, losing $40.30 would be concerning, with the next significant multi-year support not appearing until around $24.