empty
 
 
pk
سپورٹ
فوری اکاونٹ کھولیں
تجارتی پلیٹ فارم
رقم جمع کروانا / نکلوانا

29.11.202212:11 Forex Analysis & Reviews: Litecoin: upside continuation pattern

The price of Litecoin rallied and now is trading at 76.80 at the time of writing. The price action developed an upside continuation formation. Activating this pattern could bring new long opportunities. The altcoin turned to the upside as the price of Bitcoin jumped higher as well.

LTC/USD increased by 10.01% from yesterday's low of 70.50 to 77.56 today's high. After its strong growth, a minor retreat was natural. Technically, the price action signaled upside pressure.

LTC/USD Flag Formation!

Exchange Rates 29.11.2022 analysis

As you can see on the H4 chart, LTC/USD developed a minor down channel which could represent an upside continuation pattern. It has failed to stay below the weekly pivot point of 72.47 and under the 73.29 - 74.29 area signaling exhausted sellers.

The downtrend line and 79.60 represent upside obstacles. Still, in the short term, we cannot exclude a minor retreat. The rate could come back to test and retest the immediate support levels before jumping higher.

LTC/USD Forecast!

A valid breakout above the downtrend line and through 79.60 activates further growth and brings new long opportunities.

*تعینات کیا مراد ہے مارکیٹ کے تجزیات یہاں ارسال کیے جاتے ہیں جس کا مقصد آپ کی بیداری بڑھانا ہے، لیکن تجارت کرنے کے لئے ہدایات دینا نہیں.

Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaSpot
Download MetaTrader 4 and open your first trade
ابھی فوری بات نہیں کرسکتے ؟
اپنا سوال پوچھیں بذریعہ چیٹ.