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Litecoin Analysis: Chart Pattern Breakout

Conclusion for today’s Litecoin price analysis:

Current bullish trend in Litecoin should continue with the width of its bullish channel providing a minimum expectation for the price of Litecoin.

Intraday Litecoin analysis for today is carried out on a 6 hour timeframe using a log scale. Previous post about the bullish move in Litecoin can be found here for free or here.

Current chart examination is based on market action from a price low of ~23.05 on December 4, 2018 onwards.

Litecoin Analysis, Litecoin price analysis

A bullish channel is used to capture price action for most of the period mentioned above with eventual breakout occurring to the upside of the channel on April 02, 2019. An invaluable guide for the minimum projection or expectation for the price of Litecoin following breakout is the width of the channel.

Possible retracement of price is also to be expected due to overhead resistance present between ~109.64 and 89.45.

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Interested in Cardano technical analysis (ADABTC)? Checkout our previous free blog post here.

2 thoughts on “Litecoin Analysis: Chart Pattern Breakout

  1. […] by /u/Cryptotrader029 [link] […]

  2. […] A logarithmic scale is used in today’s Litecoin analysis on a 6 hour timeframe candlestick chart. Litecoin successfully breaking out of its previous bullish channel on April 02, 2019 and its implication was discussed here. […]

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