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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.
You can take advantage of this LTC/USD potential trade setup by signing up to Bybit. The exchange is one of the best-leveraged crypto trading platforms you can trade Litecoin on. You also get up to $200 in bonus when you sign-up and deposit using our Bybit link.
Key Levels To Watch
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
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
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!
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.
You can take advantage of these trade setups using leverage on Bybit. The platform is fantastic for both beginners and experienced traders.
You can sign up using this link to get up to $200 in bonus after your first deposit.
To Gain More Information On How To Partake
To gain more information on how to partake in Bitcoin trading with leverage, you can read our How To Trade Bitcoin Guide. You can also check out our top list of Best Bitcoin Exchanges To Trade With.
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