Litecoin, Most Volatile, Breakout Behind Trendline, Next Steps!

Hello Traders Investors And Community, Welcome to this update-analysis where we are looking at the Litecoin 12-hour timeframe perspective, the recent events, the current formational structure, what we can expect the next times and how to possibly handle the situation appropriately. Litecoin is one of the cryptocurrencies recently showing extreme high volatility with the breakout above the upper boundary which was an expected scenario, compared to other cryptocurrencies like XRP or Ethereum this upside volatility Litecoin has shown was exceptionally high and it is not seldom seen that the market continues after such massive up moves as the divergences increasing within the cryptocurrency market it is important to look at such clean and volatile price moves when considering something rather than to go into currencies which aren't that worthwhile because of the lag of volatility.

Looking at my chart you can watch there that Litecoin now moved above the dashed grey trendline where it already pulled back and confirmed it, this trendline is part of the broadening wedge together with the head and shoulder formation Litecoin has formed within the ascending-channel-formation before the massive breakout occurred exponentially above the trendline, it is always good to look on such several confirmations through different formations as they confirming the underlying expectations. Currently, Litecoin is building the triangular cluster together with the upper resistance and the dashed trendline, this triangular cluster is marked in my chart with the red triangle, when Litecoin manages to confirm this triangular cluster to the upside it can unfold further potentials and next steps at the horizon, here it is really important that Litecoin does not fall below the lower boundary again.

The next times will show how and when Litecoin can manage to confirm the triangular cluster and manage to move forward, till then a consolidation phase within the cluster can be expected. Compared to the rest marked Litecoin is definitely a more bullish pair at the moment as many cryptocurrencies rather not look that bullish or already forming bearish formations, this is why it is of high importance to distinguish it from the rest market. For now, we need to keep patient and look at how Litecoin is developing here, a possible entry can be detected with the breakout above the upper resistance, although an aggressive immediate entry is also possible here the best is to wait on the proper confirmation as it is so often the case, it will be definitely interesting how Litecoin develops here and especially how it forms further above resistance when showing up as suggested.

In this manner, thank you for watching the analysis, have a good day as well as good trading and all the best!
"Good luck is when opportunity meets preparation."

Information provided is only educational and should not be used to take action in the market.