Blockchain

LTC technical analysis: Litecoin breakout of the triangle!

The technical analysis shows a breakout on a chart of Litecoin cryptocurrency. LTC broke the triangle on the levels around 210 USD and got out of the range I am looking at the last couple of days.

Because Litecoin has broken the upper part of the triangle, we could predict an upward move in the coming days. Nevertheless, the volume of trades is low which does not show any power of the market or strong momentum.

Also, the breakout is represented by a quiet movement above the upper local trendline, and based on all these facts we cannot say for sure that LTC will continue up.

It all will be more clear once we will see if Litecoin will close today’s candle above the triangle, then we could retest the line from the other side or straight forward run for the next higher level.

Then our target would be around 300 USD!

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