Litecoin: Important Bullish Break

19 Haz 2019

In this chart, against USD, Litcoin can be seen in the rising channel, and within that channel there is a symmetrical triangle with a price target of the upper trendline for the channel, 157-160. It is possible that this current move is an upthrust, however, it will be retesting the top of the symmetrical triangle even consolidating there before it makes another drive. If the top of the triangle does not hold as support, it would be an upthrust, and I believe it will be highly likely that it will fall out of the channel if it breaks to the downside. On the daily chart, it can be see that there is a diverging channel in the RSI, however, this just means that litecoin has lost some momentum, in addition, it is highly possible that it will break out of this channel to the upside if this move breaks to the upside.

The RSI is presented here: