P_S_trade

LTC - 4h. New test range of $208-215?

BINANCE:LTCUSDT   Litecoin / TetherUS
As early as 2 weeks ago, a local downward trend began on the LTC market, which successfully corrects the previous wave of growth from February 28. Unsuccessful attempt of buyers on March 15 to gain a foothold above the range of $208-215 ended with the activation of sellers. In fact, for 5 days, the LTC price consolidated below the $208-215 range before starting a new downward impulse.

The main struggle in the LTCUSDT market was fought around the mark of $195 and $215 . In the previous idea, we indicated that if buyers keep $ 193-195, they will be able to break through $ 208-215:

The mark of $195 also played a key role on March 24th. It was after a weak test by buyers of this range that the LTC price fell by 13% in a few hours.

Thus, sellers managed to test the range of $170-175. At the moment, the LTC price is moving in a local channel of decline. The critical point for sellers is at $ 187. If buyers manage to take control of this mark, we will expect a re-test of $208-215.

However, in our opinion, in order to start a new wave of growth, buyers need to pass the test again in the range of $170-175. In a negative scenario, the price of LTCUSD will continue to move in the white channel of decline. Therefore, it is worth closely monitoring the re-test of $170-175 and making decisions.
__________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
Trade closed: target reached

copy trading:
English - https://cutt.ly/GKGxtpx
Ukraine - https://cutt.ly/CKGxoq6

Telegram:
English - https://t.me/+Ll0nB6WhHOUzOTE6
Українською - https://t.me/P_S_trade

Assistance to Ukraine: https://cutt.ly/bLxyeQZ
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.