- Litecoin’s consolidation hints a breakout in the short-term.
- Both short-term and long-term picture remains positive despite the lethargic reaction to the broad-based recovery on the market.
Spot rate: $56.86
Relative Change: +0.7
Open: $56.18
High: $57.73
Low: $55.48
Trend: Generally bullish
LTC/USD daily chart
Litecoin price continues to hold above $50 support even though the upside is capped under $60.
In the near-term, a forming falling wedge pattern could result in a breakout targeting $100.
LTC/USD four-hour chart
The short-term pennant chart pattern gives way for the ongoing shallow recovery.
The relative strength index (RSI) shows a gradually improving technical picture.
Litecoin’s immediate upside is limited by the 50 simple moving average (SMA).
LTC/USD 60′ chart
Litecoin price is still trading inside a falling wedge pattern hinting a breakout targeting $80 and $100 respectively.