LTC/USD is moving within a triangle pattern. Recovery above $52.18 will mitigate bearish pressure. Litecoin is changing hands at $51.74, down 0.33% in recent 24 hours and unchanged since the beginning of Monday. The market value of the 7th largest coin is registered at $3B, while the average daily trading volumes reached $302M. The coin is moving within a triangle pattern, clearly visible on the 4-hour chart. This technical setup implies that the breakthrough is imminent. Litecoin’s technical picture On the charts, LTC/USD is squeezed in an ever-narrowing range with short-term risks seem to be tilted to the downside as the coin stays below all short-term SMAs and capped by the sloping trendline from October 16 high. The critical horizontal support line lies with $51.50. Once it is broken, the sell-off may gain traction with the next focus on $50.17 (October 11 low) and psychological $50.00. Meanwhile, Litecoi bulls have to push the price above $52.18 (above-said trendline and SMA50, 4-hour), to mitigate the bearish pressure. The next resistance is seen at $52.85 (SMA100, 4-hour) and $53.00. While the Relative Strength Index (RSI) is turning down, we may need a strong trigger more trading activity amid listless cryptocurrency market. LTC/USD, 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Breaking News: Source: Merkel to quit CDU Party’s leadership – Bloomberg FX Street 4 years LTC/USD is moving within a triangle pattern. Recovery above $52.18 will mitigate bearish pressure. Litecoin is changing hands at $51.74, down 0.33% in recent 24 hours and unchanged since the beginning of Monday. The market value of the 7th largest coin is registered at $3B, while the average daily trading volumes reached $302M. The coin is moving within a triangle pattern, clearly visible on the 4-hour chart. This technical setup implies that the breakthrough is imminent. Litecoin's technical picture On the charts, LTC/USD is squeezed in an ever-narrowing range with short-term risks seem to be tilted to the downside as… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.