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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