Litecoin Technical Analysis: LTC/USD closer than ever to a falling wedge breakout
|- Litecoin is still experiencing the impact of the death cross even as the hunt for a bottom continues.
- The RSI recovery towards 50 shows that the bulls are ready to regain control and stir some action upwards.
Spot rate: $43.76
Relative change: 0.0755
Percentage change: 0.17%
Trend: Bullish
Volatility: Low
LTC/USD daily chart
Litecoin is grinding closer to a falling wedge pattern breakout most likely to reclaim lost ground heading to $100.
The declines are, however, slowing down as shown by the moving average gap, which has started to narrow.
LTC/USD 4-hour chart
Litecoin price attempts a breakout above the trendline resistance but the immediate upside is capped by the 50 SMA.
Litecoin bulls must reclaim the support at $45 to avoid declines into the $30’ range.
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