FX.co ★ Litecoin minor reversal pattern!

Litecoin has managed to increase a little in the short term as the price of Bitcoin has rebounded. The price action has printed a minor reversal pattern showing oversold signs. LTC/USD registered a 10.53% growth from 139.77 yesterday's low to 154.49 today's high.

Now is trading at 151.04 level and it seems a little undecided. It has lost its bullish momentum, so we cannot exclude a temporary decline. We need strong confirmation before really considering going long on this crypto. As you already know, the bearish pressure is high after that Walmart fake news.

LTC/USD Falling Wedge!

LTC/USD escaped from the minor Falling Wedge signaling potential growth. It has failed to reach the 156.26 weekly pivot point. It's also located below the 61.8% retracement level, so only a valid breakout above these immediate obstacles could really validate more gains.

The crypto moved sideways in the short term. A temporary decline could help us to catch a new swing higher. Only a new lower low, a bearish closure below 141.82 could invalidate the bullish scenario.

LTC/USD Prediction!

Jumping and stabilizing above the weekly pivot point (156.26) could indicate further growth at least towards the R1 (170.66).