Litecoin (LTC) is showing an interesting formation and might see an uptrend forming against BTC.
On the weekly timeframe we can see that Litecoin formed a falling wedge pattern, broke out to the upside and right now is re-testing this level as support. IF we can hold this level Litecoin can see a further increase. Also when we look at the momentum indicator we are at a important long-term support which strengthens the idea that we are seeing a bounce from here.
LTC/BTC is as well at the lows of 2017, which historically has been a great entry.
Entry levels : 3300 – 3650 Sats
1st : 4918 Sats
2nd : 6472 Sats
3rd : 8638 Sats
Invalidation : A clear break of the falling wedge resistance which right now should hold support. It’s a dynamic number right now at 3250 Sats.