LTC Hits Crucial Support Level - A Detailed look at 1-hr Chart
In recent hours, LTC has rode the downward trend line until briefly bouncing off a local FIB .114 aka ‘The Reload Zone.
Bulls fought for a double-bottom off FIB .114 driving a breakout from the down trend line. Bears took control by rejecting at FIB .618 driving the price down past the reload zone. The price fell to 261.95 which is a major support level. If lost, expect downside movement to 248.00
If the 248.00 support level is lost we see LTC dropping to 209.00.
LTC must surpass and maintain 340.00 for upward continuation.
-CeleryFarmer
Bulls fought for a double-bottom off FIB .114 driving a breakout from the down trend line. Bears took control by rejecting at FIB .618 driving the price down past the reload zone. The price fell to 261.95 which is a major support level. If lost, expect downside movement to 248.00
If the 248.00 support level is lost we see LTC dropping to 209.00.
LTC must surpass and maintain 340.00 for upward continuation.
-CeleryFarmer