Litecoin Getting Ready To Explode! Watch This Level

2:33 pm, Thu, 1 April 21

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Litecoin Getting Ready To Explode
Converging triangle pattern forming on the LTC/USD 4-hour timeframe

The Litecoin price has been ranging for quite a while now, as the LTC/USD pair continues to trade within a converging triangle pattern. This pattern is very bullish and increases the probability that we might see a price breakout to the upside in the coming days.

Litecoin Getting Ready To Explode
Potential bullish trade setup playing out on the LTC/USD 4-hour timeframe

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Key Levels To Watch

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Litecoin price analysis on the 4-hour timeframe

While the converging triangle is a very bullish pattern, there is still a small probability that we might see a pattern failure and price crash. This makes it very important to cover what we expect to see for both the bullish and bearish scenarios for litecoin.

Bullish Price Scenario

Litecoin Getting Ready To Explode
Bullish price prediction for LTC/USD on the 4-hour timeframe. Surge to $300?

For the bullish price scenario which is the highest probability trade, we want to see the Litecoin price break out of the converging triangle with bullish momentum.

This would signify that the Altcoin is finally ready to continue its bullish trajectory and could see us surging to as high as $300+ in the coming days.

Bearish Price Scenario

Litecoin Getting Ready To Explode
Key levels to watch out for on the LTC/USD 4-hour timeframe

For the Litecoin bearish scenario, we want to see the base of the converging triangle give way. This could see the LTC/USD price crashing to as low as $147 or even $114!

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Bearish price scenario for LTC/USD on the 4-hour timeframe

The price direction the LTC/USD pair will follow is strongly affected by what happens to Ethereum in the coming days. We have created a bullish price prediction analysis for the ETH/USD pair and the levels to watch. You can read about this Ethereum analysis here Ethereum On A Bullish Rampage. Price Surge To $2,800?

We also created a short Youtube video analyzing the bearish scenario for Ethereum and what we can expect to see if we do see an Ethereum sell-off in the coming days.

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