Litecoin Ascending Triangle

The ascending triangle is a bullish chart pattern that mainly forms during an uptrend as a continuation pattern. If the price breaks the resistance level and moves above the top line of this pattern, we'll get a new buy signal. Entry level should be at 330.00 with stop orders at 280.00 level. Profit targets are 400.00 and 450.00 levels. If the price drops below the triangle, we should expect further downward movement to the possible support zone formed by SM50 and 260.00 support level. This zone will be good for buying based on a confirmed reversal signal. The market looks overbought. Using small trade volume and stop orders is strongly recommended.