Litecoin Faces Potential Rejection at $55-$56 Resistance Zone

Litecoin (LTC) is currently trading near $55, testing the upper end of a rising channel. The cryptocurrency has gained 3.16% in the past 24 hours, with its price pressing resistance in the $55–$56 area.

The addition of Litecoin as collateral for on-chain loans by Coinbase may have contributed to this price movement. This change allows U.S. users (except those in New York) to borrow USDC without selling their LTC holdings.