Litecoin Ready for Bull Rally? Symmetrical Triangle Indicates Uptrend
• Litecoin [LTC] recently completed its third halving, which could result in a bull rally.
• A bullish symmetrical triangle pattern was formed on LTC’s chart, indicating an upcoming bull rally.
• According to Coinwarz data, LTC’s hashrate has been increasing for the last seven days.
Litecoin Prices May Rally Shortly
Litecoin [LTC] recently completed its third halving, which could result in a bull rally in the near future. A bullish symmetrical triangle pattern was formed on LTC’s chart, indicating an upcoming bull rally.
Decrease In Trading And Social Volume
The crypto market has been inert of late as not much volatility was seen on the charts of the top cryptos. Litecoin also followed this trend as its price remained slow-moving. The coin had a market capitalization of over $6 billion, making it the 13th largest crypto.
Unfortunately, trading and social volume for LTC declined last week.
Coinwarz data shows that LTC’s hashrate has been increasing for the last seven days at press time standing at 786.59 TH/s.
Bullish Triangle Pattern
An analyst pointed out that a bullish pattern had formed on the coin’s chart which could lead to a bull rally over the coming months. Belew expects LTC ’s price to reach an all-time high during the last quarter of this year.
Though there is no guarantee that the current market will behave any differently than it has been lately, investors may want to keep an eye out for Litecoin’s potential gains in light of its recent halving and bullish triangle formation.