Is the lighting price compressed and moving forward from the wedge where the lights are tight?
In his latest update, Cryptowzrd observed that Litecoin ended the day with weakness according to Bitcoin’s wider trend. He emphasized that the LTC/BTC chart remains in the fallen wedge. Cryptowzrd added that it will maintain a close watch for scouts for quick scalp opportunities for reconnaissance during the weekend.
Falling wedge formation keeps the key
Cryptowzrd emphasized that both Litecoin’s daily charts and LTC/BTC pairs have been closed. Despite these short -term weaknesses, he pointed out that LTC/BTC continues to form a downturn, which is a structure that prefers the reversal when it is historically broken.
He explained that a healthy brake out can cause a strong rally in the wedge. This movement, especially after the recent weakness is closed, shows significant changes in momentum and can attract new purchase pressure to the market.
Cryptowzrd is a trading bearish, but Litecoin is still increasing $ 112. He emphasized that this area is important because the daily candlelight of the area in the area can be confirmed by the buyer and set the stage of the next legs higher.
In the future, he has identified $ 140 as the next key resistance goal, which is the level that Litecoin must overcome to confirm continuous rally. If the price is over $ 140, Cryptowzrd believes that Altcoin can expand its profits to $ 170 and open for a wider strength.
Litecoin Intraday volatility is picked up
In conclusion, analysts pointed out that Litecoin’s chart showed today’s noticeable volatility. He suggested that merchants should expect more swing in this position as the market attempts to set a clearer direction.
Experts stressed that Litecoin must exceed $ 115.50 resistance in order to switch to a more positive position. Beyond this level, successful movements can provide the propulsion for higher propulsions, and $ 123 appears as the following resistance goal of the upward trend.
At this time, we focus on low time frame charts to identify his fast scalp opportunities. He added that his expectations will still be measured, given that the transaction conditions tend to be thin and less predictive during the weekend.
