The Litecoin chart displayed in this analysis is a 1 hour timeframe candlestick chart from August 16, 2018 to present date.
The most recent chart pattern for Litecoin from September 7, 2018 is an ascending triangle, which is ideally bullish.
$58.97 indicates the price level for confirmation of the ascending triangle. Meanwhile, $51.86 and $50.85 indicate price levels that will be expected to provide support should price action eject the triangle and move to the downside.
A close below the lower level of support (50.85) especially means more bearish action can be expected for Litecoin.
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