Litecoin Pennant Chart Pattern

The price is going to confirm a pennant chart pattern. This pattern belongs to the continuation group of chart patterns and we should expect for further upward movement. Also the price bounces from the support zone formed by SMA20, SMA50 and the uptrend line. RSI confirms price reversal and MACD is going to support upward movement. It's buy opportunity and we can place pending orders at 53.00 level. Stop orders must be placed at 51.30 level. Profit targets are 55.00 and 60.00 resistance levels.