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  • 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.