🔍 Technical Analysis Summary:
Pattern: Falling Wedge (bullish reversal pattern)
Breakout Direction: Upward breakout from the wedge appears to be projected.
Current Price: ~$96.72
Target Price: $120.95 (projected post-breakout target)
🟢 Bullish Signs:
The falling wedge typically signals a potential trend reversal to the upside.
The breakout projection suggests a strong upward movement is expected after accumulation.
📈 Price Targets:
Short-Term Resistance: $100.00 psychological level.
Main Target: $120.95 as shown on the chart.
🔻 Risk Management:
Key support lies within the wedge’s lower boundary around ~$90–92.
Break back below the wedge could invalidate the bullish outlook.
Summary:
Litecoin has formed a bullish falling wedge pattern. A breakout above the wedge could push the price toward the $120.95 target. Confirmation is needed with strong volume. Maintain stop-losses below the wedge support to manage risk.