Lighting is destroyed under the parallel channel. Analysts predict this goal

The analyst recently pointed out that Litecoin could move to this price level of how it slipped in parallel channels.

Litecoin is broken under the support of parallel channels

In the new post of X, the analyst Ali Martinez discussed the parallel channel of Litecoin. “Parallel Channel” indicates the pattern of the technical analysis (TA) formed when the price of the asset is integrated between the two parallel trend lines.

There are three types of parallel channels, but I am interested in the channel parallel to the time axis in the context of the current topic. In this pattern, the trend line tracks the highest scores and lows of the same size. In other words, assets are completely integrated into the side.

The top line of parallel channels is likely to be a source of resistance to future prices. That is, the top can occur. Similarly, the lower level can be a place where the floor occurs.

But if assets overlook one of these barriers, you can continue to see the trend in that direction. In other words, the escape on the channel can be an optimistic sign, but falling below it can be weak.

As mentioned earlier, there are other types of parallel channels. In other words, ascending and descending version. These occur when there is a slope on the trend line. In other words, the integration of the price occurs in the net rise or lower. Naturally, the uphill channel is formed when the slope is amnioticized and falls when it is negative.

Until recently, Litecoin’s daily price was potentially traded in parallel channels. The charts shared by the analyst are: It shows this pattern of cryptocurrency.

In the graph, Litecoin’s recent weakness meant that the price is parallel channel. If the pattern is maintained, this brake out means the weak result of the asset.

In general, the movement from parallel channels is the same length and length of the pattern itself. Based on this, the analyst achieved the goal of LTC. Martinez said, “If you terminate this channel, you can move the price to $ 70.

Litecoin is falling down because a plunge under the low trend of the pattern has occurred. However, the decline still remains to be extended to this price goal.

LTC price

Litecoin has fallen nearly 6%over the last 24 hours, which has erased the initial recovery and lowered the price to $ 88.