FX.co ★ Will Litecoin repeat the past bullish break out?

Red lines- downward sloping wedge patterns

Blue lines- bullish divergence

Litecoin remains in a bearish trend making lower lows and lower highs. Price is showing a similarity to the pattern it followed one year ago. In both cases we see price forming a downward sloping wedge pattern and the RSI providing bullish divergence signals. Resistance by the wedge pattern upper boundary is at $58-59. A break above this level will be a bullish signal. Until then I would expect price to continue its drift lower.