LTC/USD holds this trendline support for dear life

Fibo Quantum

  • Litecoin revives the bullish momentum ahead of the weekend, correcting 1.33% higher on the day.
  • A rising triangle pattern in the 4-hour range hints an impending breakdown unless LTC rises above $50.

Spot rate: $47.59

Relative change: 0.6545

Percentage change: 1.33%

Trend: Ranging

Volatility: Shrinking

LTC/USD daily chart

Litecoin bulls are pushing for a break from the decline streak that has befallen it since the end of June.

A lower trendline has come out as incredible support capable of nurturing the reversal movement.

LTC/USD 4-hour chart

The formation of a rising wedge pattern hints a reversal back to the $40 support area.

Litecoin bulls must force through the resistance at $48 and $50 to completely avert a possible reversal.

LTC/USD 1-hour chart

The Relative Strength Index horizontal movement signals possible sideways trading ahead of the weekend session.

 

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