Litecoin Analysis: Chart Pattern Breakout
Conclusion for today’s Litecoin price analysis: Current bullish trend in Litecoin should continue with the width of its bullish channel providing a minimum expectation for the price of Litecoin.
Intraday Litecoin analysis for today is carried out on a 6 hour timeframe using a log scale. Previous post about the bullish move in Litecoin can be found here. Current chart examination is based on market action from a price low of ~23.05 on December 4, 2018 onwards.
A bullish channel is used to capture price action for most of the period mentioned above with eventual breakout occurring to the upside of the channel on April 02, 2019.
An invaluable guide for the minimum projection or expectation for the price of Litecoin following breakout is the width of the channel.
Possible retracement of price is also to be expected due to overhead resistance present between ~109.64 and 89.45.
Intraday Litecoin analysis for today is carried out on a 6 hour timeframe using a log scale. Previous post about the bullish move in Litecoin can be found here. Current chart examination is based on market action from a price low of ~23.05 on December 4, 2018 onwards.
A bullish channel is used to capture price action for most of the period mentioned above with eventual breakout occurring to the upside of the channel on April 02, 2019.
An invaluable guide for the minimum projection or expectation for the price of Litecoin following breakout is the width of the channel.
Possible retracement of price is also to be expected due to overhead resistance present between ~109.64 and 89.45.
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