Litecoin technical analysis: LTC/USD bulls have the wind behind them

• Litecoin is holding trading in positive territory late in the session on Wednesday, up some 3.30%.  
• LTC/USD is moving within a daily bullish pennant structure, eyes on a breakout.  
• The next major target area for the bulls could be $160 territory.  

Spot rate:                  138.81

Relative change:       +1.25%

High:                         139.30

Low:                          133.72

LTC/USD 60-minute chart

• Price near-term has breached a near-term descending trend line and a 60-minute pennant structure.  

LTC/USD daily chart

• A bullish pennant structure is eyed via the daily chart view, subject to upside risks.