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Litecoin 1 hour timeframe analysis

Litecoin price chart shown in this analysis is a 1 hour time frame from August 4, 2018.

Ltc chart analysis, ltc analysis, future of litecoin

 

Price action from September 4, 2018 to date is described using as a symmetrical triangle; a chart pattern that ideally indicates stalemate between demand and supply.

~$62.36 and $50.48 are indicated as price levels to pay attention to as a break above the former implies resumption of bullish strength, while a break below the latter indicates further lower prices in Litecoin.

The width of the chart pattern is valuable in providing a minimum estimate for projection of the price following a confirmed breakout.

Interested in Bitcoin analysis (BTCUSD)? Check out our previous work here. Moreover,  XRP price analysis (Ripple) can be found here.

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