Yesterday, we noted that altcoins appear to be turning into sideways action and in the process, some are forming Falling Wedge patterns (see blog and video).

And those patterns were approaching their pinnacle, meaning a breakout was coming up soon.  Falling Wedge patterns typically resolve in a bullish breakouts.

Some of those emerging patterns have now turned into completed patterns, i.e. breakouts.  Note how the price has pierced through the resistance trendline of the pattern.

Below are two of those examples: VeChain (VET) and Litecoin (LTC).

You can find Falling Wedge patterns in our Curated Charts section.  These can generate some decent trade setups for you if you know how to leverage that information and set up alerts.

Falling Wedge pattern typically resolves in a bullish breakout.  The pattern can appear in an Uptrend or Downtrend, the latter is our case.  See Pattern Cheat sheet for more info.

The way to trade it, like with most patterns, is to wait for a breakout.  Read more in our knowledge base.

Watch this video to get an update on the altcoins market and learn about Falling Wedge pattern.

You can find Falling Wedge patterns in our Curated Charts but also in the Patterns section.  Below are some examples of “emerging” Falling Wedge patterns: PNT and ETC.  These are emerging, meaning, price is still bouncing between the resistance and support trendlines.  Notice that the price is nearing a pinnacle of these wedges, hence, a breakout is approaching (bullish or bearish).

In fact, our automated chart pattern recognition has identified three breakouts from Falling Wedge: MATIC, LINA, NAS.  Here’s MATIC: