Litecoin Technical Analysis: LTC/USD patiently waits for the wedge pattern breakout
|- Litecoin is trading sideways above the key support at $42.
- A possible short-term break above the descending channel resistance suggests correction towards $50 is possible.
Spot rate: $43.25
Relative change: -0.2827
Percentage change: 0.7%
Trend: Bullish
Volatility: Low
LTC/USD daily chart
Litecoin is delaying an almost certain falling wedge pattern breakout.
The upside is capped by the 50-day SMA at $52.79 and the 200 SMA 78.15.
LTC/USD 4-hour chart
The Bollinger Band narrowing trend suggests that volatility is low and no rapid movement is expected in the near-term.
The RSI shows that buying pressure is still present and enough to defend key support at $42.
LTC/USD 1-hour chart
Litecoin's short-term technical picture starts to improves as the MACD changes course toward the positive region.
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