The price of LTC has been creating a potential symmetrical triangle pattern labeled as “abcde”. Its upper and lower limits are the first possible resistance and support levels and they could be important for the price.
What is more, the potential resistance is also set by the expanding wedge pattern that has been forming for a long time. If it is broken with an upper limit within the triangle, we may expect another rally above 100 USD.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
What is more, the potential resistance is also set by the expanding wedge pattern that has been forming for a long time. If it is broken with an upper limit within the triangle, we may expect another rally above 100 USD.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.