LTC/USD pair has broken through the resistance area at $138

Litecoin jumped off the support area at $134 yesterday and went upwards. The currency pair has broken through the resistance area at $138 later on Wednesday. However, bulls have met a resistance as Litecoin price was close to the lower side of the Ichimoku cloud and buyers were unable to cross it. LTC/USD returned to the support area at $138 and even tried to cross it. The currency pair stays close to that level currently.

The possible scenarios for LTC/USD are the following:

1. The currency pair will jump off the support area at $138 and will successfully test the lower side of the Ichimoku cloud. LTC/USD will have chances to move higher towards the next resistance level at $146.

2. Litecoin will break through the support area at $138 and develop its downside progress towards the next support area at $134.

3. LTC price will remain unchanged as there will be no significant moves.

As for the daily chart, the situation here remains unclear as LTC price is close to the lower border of the Ichimoku cloud. We had a pin-bar yesterday close to the lower side of this formation.

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