- Litecoin value is at present bounded inside a symmetrical triangle sample on the 1-hour chart.
- The digital asset seems poised for a breakout that will push it by 16%.
Litecoin has been beneath consolidation for the previous two days and has fashioned a symmetrical triangle sample on the 1-hour chart. The digital asset seems primed for an enormous 16% breakout in direction of $166.
Litecoin value must crack $142 to see $166
LTC is at present buying and selling just under a crucial resistance stage at $142 which might open the doorways for a 16% breakout in direction of $166. The digital asset fashioned a symmetrical triangle on the 1-hour chart which appears to be on the verge of cracking.
LTC/USD 1-hour chart
The technical confluences additionally present that $142 is a powerful resistance stage indicating that the 4-hour center Bollinger band, the 15-minutes higher Bollinger band and the earlier 15-minutes excessive converge on that time. Moreover, there’s additionally a powerful resistance stage at $144 the place the day by day center Bollinger band at present stands.
On the best way down the $142 stage additionally serves as assist as it’s the earlier 4-hour excessive. At $141.7, we discover the earlier hourly excessive. A rejection from $142 and a lack of these two ranges could be bearish and will doubtlessly drop Litecoin value right down to $130.