Litecoin short-term to $152? Descending triangle formed

Litecoin (BITFINEX:LTCUSD)

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BITFINEX:LTCUSD Litecoin

trendanalysis chartpattern litecoin litecoinusd ltcusd bitcoin cryptocurrency

Litecoin seems to have formed a descending triangle on the hourly chart. However, prices haven't broken the 0.5 fib yet.

If this level is broken, we can see the price dropping to around $152. Next support is at $146. MACD is looking bearish too.

However, a positive development in BTC can reverse this. I am neutral on BTC at the moment.

Just an idea. Please do not trade on this. DYOR.

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We have reached $152. If this doesn't hold we can drop to $146.

Just an idea. Please do not trade on this. DYOR.

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