Litecoin at crossroads: 1 hour tf analysis
Litecoin price chart shown in this analysis is a 1 hour time frame from August 4, 2018.
Price action from September 4, 2018 to date is described using as a symmetrical triangle; a chart pattern that ideally indicates stalemate between demand and supply.
~$62.36 and $50.48 are indicated as price levels to pay attention to as a break above the former implies resumption of bullish strength, while a break below the latter indicates further lower prices in Litecoin.
The width of the chart pattern is valuable in providing a minimum estimate for projection of the price following a confirmed breakout.
Price action from September 4, 2018 to date is described using as a symmetrical triangle; a chart pattern that ideally indicates stalemate between demand and supply.
~$62.36 and $50.48 are indicated as price levels to pay attention to as a break above the former implies resumption of bullish strength, while a break below the latter indicates further lower prices in Litecoin.
The width of the chart pattern is valuable in providing a minimum estimate for projection of the price following a confirmed breakout.
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