Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. In his latest update, CryptoWzrd observed that Litecoinclosed the day on a bearish note, moving in line with Bitcoin’s broader trend. He stressed that the LTC/BTC chart remains within a falling wedge formation. CryptoWzrd added that he will be keeping a close watch on the intraday action over the weekend to scout for quick scalp opportunities, particularly if Bitcoin lends further confirmation to the setup. Falling Wedge Formation Holds The Key
CryptoWzrd highlighted that both Litecoin’s daily chart and the LTC/BTCpair closed on a bearish note. Despite this short-term weakness, he pointed out that LTC/BTC continues to maintain a falling wedge formation, a structure that historically favors bullish reversals when broken to the upside. Related Reading Litecoin Clings To Ascending Trendline As Bulls Eye $135 Breakout 1 week ago
He explained that a healthy breakout from this wedge could trigger a strong upside rally, with Litecoin likely to follow suit and reflect the broader market sentiment. Such a move would mark a significant shift in momentum, particularly after the recent bearish closes, and could attract renewed buying pressure into the market. LTC showing underlying strength | Source: Chart from CRYPTOWZRD on X
CryptoWzrd noted that Litecoin, although trading bearish, is still holding firmly above the $112 level. He emphasized that this zone is crucial, as a single strong bullish daily candle from this area could serve as confirmation for buyers and set the stage for the next leg higher.
Looking ahead, he identified $140 as the next key resistance target, a level that would need to be overcome for Litecoin to confirm a sustained rally. Should the price manage to close above $140, CryptoWzrd believes the altcoin could extend gains toward $170 and potentially open the door for a broader bullishcontinuation. Litecoin Intraday Volatility Picks Up
Conclusively, the analyst noted that Litecoin’s intradaychart showed noticeable volatility today, a sign that price movements could remain sharp in the near term. He suggested that traders should anticipate more swings from this location, as the market attempts to establish a clearer direction. Related Reading Litecoin Is On Fire: $120–$125 Range In Bullish Crosshairs 1 month ago
The expert emphasized that for Litecoin to shift into a more positive stance, it must hold above the $115.50 intraday resistance. A successful move above this level could provide the momentum needed to push higher, with $123 standing out as the next resistancetarget on the upside.
For now, his focus remains on lower time frame charts to identify quick scalp opportunities. Given that trading conditions tend to be thinner and less predictable over the weekend, he added that his expectations will remain measured, preferring to wait for a healthy setup before committing to new positions. LTC trading at $113 on the 1D chart | Source: LTCUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com