LTC USDT | Multi-confluence Resistance | Ascending triangle
Todays Analysis - LCTUSDT - consolidating in an ascending triangle, on its 3rd attempt to break structural resistance
Points to consider:
- Multi-confluence resistance
- Fibonacci retracement levels (visual guide)
- Declining volume
- RSI below 50
LTC USDT has been lagging considerably behind the broader market failing to break its multi-confluence structural resistance.
Fibonacci retracement lining up nearly perfectly with market structure acting as a visual guide to key levels.
Volume is declining, indication of an influx being imminent, possibly coinciding with the re-test and break of structural resistance.
The RSI is currently below 50 on higher timeframes, bias is still bearish in the immediate market.
Overall, in my opinion, LTC needs a break and consolidate above structural resistance with volume follow through to validate technical targets above.
Points to consider:
- Multi-confluence resistance
- Fibonacci retracement levels (visual guide)
- Declining volume
- RSI below 50
LTC USDT has been lagging considerably behind the broader market failing to break its multi-confluence structural resistance.
Fibonacci retracement lining up nearly perfectly with market structure acting as a visual guide to key levels.
Volume is declining, indication of an influx being imminent, possibly coinciding with the re-test and break of structural resistance.
The RSI is currently below 50 on higher timeframes, bias is still bearish in the immediate market.
Overall, in my opinion, LTC needs a break and consolidate above structural resistance with volume follow through to validate technical targets above.