Litecoin | Triangle Development Is Not Over Yet

Litecoin | Triangle Development Is Not Over Yet

What Is Litecoin (LTC)?
Litecoin (LTC) is a cryptocurrency that was designed to provide fast, secure, and low-cost payments by leveraging the unique properties of blockchain technology.

The cryptocurrency was created based on the Bitcoin (BTC) protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.

Technical Analysis:
As we can see from the chart, the price is developing within a kind of Triangle Pattern..
The support area looks very strong at the moment and is close to $ 97.
Once that price created the support areas, we can see that it increased again in a fast way.

The price may move up or down considering the type of the triangle pattern.

Personally, I would like to see the price between 102 and 97, and at that point, I would like to buy future contracts, with small leverage or SPOT trading but with a small amount that can be averaged down later if the price keeps moving down.

Even if the price breaks below the pattern, it should rise again higher as the bullish momentum seems very strong close to $ 97.

However, this is just my trading plan and it is by no means a trading suggestion.

Thank you and Good Luck!