Litecoin has been performing well since its 11.4% pump that hit on 7 September followed by another 17.3% pump a week later on 14 September.
But things could be getting ready to change as LTC is forming a descending triangle with its bottom sitting at 73.00 which represents the 61.8% fib retracement from the 68.33-80.22 pump we saw from 14-18 September.
This pattern will play out within 28 hours with a target of 70.88, the 78.6% retracement which has provided both support and resistance as the price has approached this range.
In the event of a breakout to the upside which is less likely, will give us targets north of 80.22 which we haven't seen since mid-August.
But things could be getting ready to change as LTC is forming a descending triangle with its bottom sitting at 73.00 which represents the 61.8% fib retracement from the 68.33-80.22 pump we saw from 14-18 September.
This pattern will play out within 28 hours with a target of 70.88, the 78.6% retracement which has provided both support and resistance as the price has approached this range.
In the event of a breakout to the upside which is less likely, will give us targets north of 80.22 which we haven't seen since mid-August.