In his latest updateCryptowzrd noticed that Litecoin closed the bear’s day, moving with a broader Bitcoin trend. He emphasized that the LTC/BTC chart remains as part of the falling wedge. Cryptowzrd added that at the weekend it will carefully observe the endowy action to test the rapid capabilities of the scalp, especially if Bitcoin gives further configuration configuration.
The Falling Wedge formation has the key
Cryptowzrd emphasized that both the Litecoin daily table and LTC/BTC pair closed to the bear. Despite this low -term weakness, he pointed out that LTC/BTC still maintains a drooping wedge formation, a structure that historically favors stubborn reversal after breaking up.
He explained that a well break from this wedge can cause a forceful additional rally, and Litecoin can follow in their footsteps and reflect wider market moods. Such a move would mean a significant change in the shoot, especially after closing the recent Bearish, and could attract re -purchasing pressure to the market.
Cryptowzrd noticed that Litecoin, though Bearish trade, still stays much above USD 112. He emphasized that this zone is of key importance, because a single forceful daily candle from this area can serve as confirmation for buyers and prepare the stage for the next leg.
Looking to the future, he identified 140 USD as the next key purpose of resistance, the level that should be overcome so that Litecoin confirms the lasting rally. If the price can be completed above 140 USD, Cryptowzrd believes that Altcoin can enhance profits compared to 170 USD and potentially open the door to a wider continuation of the stubborn.
Litecoin emotion increases
To sum up, the analyst noticed that the Litecoin integral chart showed a noticeable variability today, a sign that price movements may remain edged in the near future. He suggested that traders should predict more fluctuations in this location, because the market is trying to determine a clearer direction.
The expert emphasized that in order for Litecoin to go on a more positive attitude, he must persist above the 115.50 resistance. Successful traffic above this level can provide a momentum needed to push higher, and 123 USD stands out as the next resistance goal for an advantage.
For now, it focuses on lower time frame charts to identify rapid scalp capabilities. Considering that trade conditions are usually thinner and less predictable over the weekend, he added that his expectations would remain measured, preferring to wait for a well configuration before committing to fresh positions.
