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!

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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.

The material has been provided by InstaForex Company - www.instaforex.com

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