Litecoin Technical Analysis: LTC/USD holds this trendline support for dear life
|- 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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