(LTC) Litecoin challenges major wedge pattern resistance.

The Technical Outlook Of Litecoin Cryptocurrency

Relevance up to 14:00 2022-06-24 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Exchange Rates 21.06.2022 analysis


Red lines- wedge patterns

Blue lines- RSI bullish divergence

In our previous analysis we noted the downward sloping wedge pattern that has formed in the Litecoin Daily chart and its similarities to the May 2021 wedge pattern and break out. Price is now trading around $52.20 very close to the upper wedge boundary. Bulls need to break Litecoin price above $56-57 in order to call for a break out. The bullish RSI divergence supports the bullish reversal scenario. Traders need to remain patient for the break out to occur.


Read more: https://www.instaforex.eu/forex_analysis/281103

The Technical Outlook Of Litecoin Cryptocurrency

InstaForex Analysis

Instant Trading EU Ltd. is the CFD broker operating under the brand instaforex.eu, regulated by CySec with license number 266/15.

Besides CySEC, Instant Trading EU Ltd. is also supervised by the Czech National Bank (CNB), the Slovak National Bank (SNB), and the Polish Financial Supervision Authority (KNF). InstaForex.eu has branches in the Czech Republic, Slovakia, and Poland, where it provides support in local languages. InstaForex.eu is a member of the Investor Compensation Fund (I.C.F) which is an additional security for the client's funds.

InstaForex.eu offers access to around 2,500 instruments (CFDs in Stocks, ETFs, IPOs, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Stocks) and the MT4 and MT5 platforms,trading accounts in EUR, USD, PLN, CZK, GBP.

More information at: www.instaforex.eu

Follow InstaForex.eu on:

Twitter Facebook YouTube


Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.88% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.