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Stalking Litecoin's Bullish Breakout

Bitcoin has been volatile in 2015 but has been consolidating since the end of August after price tagged 2.40. It formed what looks like an ascending triangle with resistance at 3.22. 

Litecoin (LTCUSD) Daily Chart 11/1

(click to enlarge)

Last week, price unhinged and shot up above 3.22, cracking 4.00 before stalling. This bullish breakout should usher in at least a short-term and possible a medium-term bullish outlook. However, in the very short-term, because the market might be overbought in this time-frame, we might see some pullback.

If we see a pullback, we should expect some support around the previous resistance pivot around 3.22. As for the upside, a common price in 2015 is around 5.00-5.50, making this area a possible target. 

Litecoin Weekly Chart 11/1


(click to enlarge)