FX.co ★ Litecoin Exit Its Range Soon?

Litecoin increased after ending its last retreat. It maintains a bullish bias, so further growth is favored. LTC/USD increased again as the price of Bitcoin has managed to rebound aggressively in the short term.

It has registered an 8.21% growth from 142.51 yesterday's low till 147.49 today's high. Now it's trading at 145.19 and is fighting hard to come back higher towards the 149.26 critical resistance.

LTC/USD Imminent Breakout!

As you can see on the H4 chart, LTC/USD moves sideways between 105.25 and 149.26 levels. The crypto stays right below the 149.26 level indicating a potential upside breakout. Its failure to approach and reach the lower median line in the last attempts signals that the crypto could approach the median line (ML).

Making a valid breakout from the current range may signal further growth towards the median line (ML). A major upwards movement will be activated after a valid breakout through the ascending pitchfork's median line (ML).

Forecast!

LTC/USD is bullish as long as it stays above the weekly pivot point (139.07) level. Jumping and closing above the R1 (151.12) could signal further growth.