Hello everyone, let's look at the LTC to USDT chart on a 4-hour timeframe. As you can see, the price is moving below the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is $73.41, if the support is broken then the next support is $70.02, $67.24 and $64.45.
Now let's move to the resistance line, as you can see the first resistance is $78.69, if you break it, the next resistance will be $81.90, the third $84.63 and $87.18.
Looking at the CHOP indicator, we can see that there is a lot of energy for the upcoming move, the MACD has returned to the local uptrend while the RSI is moving at the lower border which could give the price an increase in the coming hours.
Let's start with the support line and as you can see the first support in the near future is $73.41, if the support is broken then the next support is $70.02, $67.24 and $64.45.
Now let's move to the resistance line, as you can see the first resistance is $78.69, if you break it, the next resistance will be $81.90, the third $84.63 and $87.18.
Looking at the CHOP indicator, we can see that there is a lot of energy for the upcoming move, the MACD has returned to the local uptrend while the RSI is moving at the lower border which could give the price an increase in the coming hours.