FX.co ★ Short-term technical analysis on Litecoin for June 30, 2022.

Red lines- wedge pattern

Blue line- bullish divergence

Green line -resistance

Litecoin is moving lower after price getting rejected at the resistance of $57.50-$58. Litecoin remains inside the downward sloping wedge pattern, We continue to consider the bounce as a relief bounce as we mentioned in our last analysis. Bulls need to break above the green horizontal resistance and the upper wedge boundary in order to hope for a trend reversal. The RSI has provided a bullish divergence but this is not a reversal signal. This is only a warning to bulls to be cautious.