Kudiiee
Long

LTC USDT | Multi-confluence Resistance | Ascending triangle

BINANCE:LTCUSDT   Litecoin / TetherUS
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.

Comments

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