Litecoin technical analysis: LTC/USD poised for a bullish flag breakout on hourly chart

The fourth most widely traded cryptocurrency, Litecoin, staged a solid comeback on Saturday and regained the 130 handle, having extended Thursday’s recovery into a second straight session. As for Sunday’s trading so far, the LTC bulls appear to take a breather before attempting another run higher to retest the 13-month highs of 145.63.

Litecoin (LTC/USD) gained over 12% over the last 24 hours and now remains on track for the second straight quarterly rise. The coin has risen 48.10% so far this month, with a market capitalization of $ 8.23B, or 2.38% of the total cryptocurrency market cap. 

From a technical perspective, the bulls are likely to extend control, as a bullish flag formation (a bullish continuation pattern) is spotted on the hourly sticks. Only a break above the 134 level will confirm the pattern (descending trend line resistance), with the further upside likely to open up towards the yearly tops of 145.63. The buying interest will pick up pace above the last, with the levels beyond the 150 barrier back in sight. Read More at FXStreet...

#LTC #Bullish #TA

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