LTC Technical Analysis: Will Buyers Flourish Within Rising Wedge?

The LTC price action shows a bull cycle within a rising wedge pattern teasing a bull run above $65 to reach the $75 mark. Key Technical Points: Litecoin (LTC) prices have increased by 45% in the last two months. The bull cycle within the rising wedge challenges the 100-day SMA. With a market cap of $4.35 billion, the intraday trading volume of Litecoin has increased by 6.15% to reach $469 million. Past Performance of LTC The LTC price action shows a bullish reversal with lower price rejection near the $40 mark to form a rising wedge pattern. The continuation pattern accounts for a price jump of 50% in the last months and a jump above $60. The bullish reversal from the support trendline currently teases a price jump above the 100-day SMA. Source – Tradingview LTC Technical Analysis The LTC price action saw a 3.13% jump today to break above the $60 mark teasing a bullish trend to the resistance trendline. The traders can expect the bullish breakout rally to reach the $75 mark. The RSI slope shows a bullish reversal from the halfway line leading to a spike within the nearly overbought zone. Hence, the technical indicator reflects a rise in the underlying bullishness, increasing the uptrend possibility to the $75 mark. The MACD indicator shows the fast and slow lines regaining the bullish spread after the recent merger as the bullish histogram spikes. Hence, the increasing likelihood of a continuation in the MACD and signal lines ...