- Litecoin worth is at the moment bounded inside a symmetrical triangle sample on the 1-hour chart.
- The digital asset appears to be like poised for a breakout that may push it by 16%.
Litecoin has been underneath consolidation for the previous two days and has shaped a symmetrical triangle sample on the 1-hour chart. The digital asset appears to be like primed for an enormous 16% breakout in direction of $166.
Litecoin worth must crack $142 to see $166
LTC is at the moment buying and selling just under a vital resistance stage at $142 which might open the doorways for a 16% breakout in direction of $166. The digital asset shaped 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 robust 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 robust resistance stage at $144 the place the each day center Bollinger band at the moment stands.
On the best way down the $142 stage additionally serves as help 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 can be bearish and will probably drop Litecoin worth all the way down to $130.