Litecoin (LTCUSD) Bullish Declining Wedge Breakout. Upside Expected
LTC has recently confirmed a bullish breakout from a declining wedge formed since the March highs. Moves out of these wedges typically proceed in a swift fashion. Bullish divergence is evident on the chart and the August and September lows also coincided with a zone of support from last year as marked on the chart.
Whilst wedge breakout targets are a deep to full retrace of the wedge formation (175-250), much like a few other crypto charts, it will first has some resistance to clear, for LTC that's in the 87-110 region. The upper end of this level looks particularly important given it marked the low from the initial sell off from the December blow out top. Its unlikely to rip through there without encountering some selling.
Any move below the most recent low then much lower prices should be expected.
Let's see where we go. Feels like slightly higher prices coming. Fractals speak if you listen.
Agree. A few bullish moves around. I've posted a couple other nice looking charts in case you're interested.