A negative trend has dominated the charts for the previous few days, according to Litecoin price research.
Additionally, a decline in price levels has been seen over the past 24 hours, which is highly demoralising for purchasers.
As the negative momentum continues for another two days of downward movement, the price has been corrected down to the $51.98 mark.
The bulls are still fighting to gain control of the market, even if the price has lately fallen, if it rises over the $54.27 resistance level.
The digital asset has dropped more than 3.90% in the previous day and is now trading below the $54 mark.
The currency is ranked 20th on CoinMarketCap and has a $3.96 billion market cap.