Litecoin Price Compresses In Tight Falling Wedge, Breakout Ahead?

In his latest update, CryptoWzrd observed that Litecoin closed the day on a bearish note, moving in line with Bitcoin’s broader ￰0￱ stressed that the LTC/BTC chart remains within a falling wedge ￰1￱ added that he will be keeping a close watch on the intraday action over the weekend to scout for quick scalp opportunities, particularly if Bitcoin lends further confirmation to the ￰2￱ Wedge Formation Holds The Key CryptoWzrd highlighted that both Litecoin’s daily chart and the LTC/BTC pair closed on a bearish ￰3￱ this short-term weakness, he pointed out that LTC/BTC continues to maintain a falling wedge formation, a structure that historically favors bullish reversals when broken to the ￰4￱ Reading: Litecoin Clings To Ascending Trendline As Bulls Eye $135 Breakout He explained that a healthy breakout from this wedge could trigger a strong upside rally, with Litecoin likely to follow suit and reflect the broader market ￰5￱ a move would mark a significant shift in momentum, particularly after the recent bearish closes, and could attract renewed buying pressure into the ￰6￱ noted that Litecoin, although trading bearish, is still holding firmly above the $112 ￰7￱ emphasized that this zone is crucial, as a single strong bullish daily candle from this area could serve as confirmation for buyers and set the stage for the next leg ￰8￱ ahead, he identified $140 as the next key resistance target, a level that would need to be overcome for Litecoin to confirm a sustained ￰9￱ the price manage to close above $140, CryptoWzrd believes the altcoin could extend gains toward $170 and potentially open the door for a broader bullish ￰10￱ Intraday Volatility Picks Up Conclusively, the analyst noted that Litecoin’s intraday chart showed noticeable volatility today, a sign that price movements could remain sharp in the near ￰11￱ suggested that traders should anticipate more swings from this location, as the market attempts to establish a clearer ￰12￱ Reading: Litecoin Is On Fire: $120–$125 Range In Bullish Crosshairs The expert emphasized that for Litecoin to shift into a more positive stance, it must hold above the $115.50 intraday resistance.

A successful move above this level could provide the momentum needed to push higher, with $123 standing out as the next resistance target on the ￰13￱ now, his focus remains on lower time frame charts to identify quick scalp ￰14￱ that trading conditions tend to be thinner and less predictable over the weekend, he added that his expectations will remain measured, preferring to wait for a healthy setup before committing to new ￰15￱ image from Adobe Stock, chart from ￰16￱