Going further, we will check what the situation on LTC looks like, taking into account the four-hour interval. let's start by marking the downward trend channel with blue ones, from which the price went up and started moving along the local upward trend line, above which it is currently staying.
At this point, it is worth marking the first and current second attempt to return above ema cross 20o to the upward trend, which has been rejected at this time.
After unfolding the Trend Based Fib Extension tool, we can mark the first support zone from $64.86 to $62.94, then we can mark the second zone from $59.85 to $57.66, and then strong support at $54.84.
Looking the other way, we can similarly determine the resistance areas that the price must face. And here we see that currently the price has been rejected by the resistance zone from $66.70 to $69.17, only when it is broken we will see an attempt to attack the resistance at $72.30.
The CHOP index indicates that most of the energy has been used, on the RSI we approached the upper limit, to which the chart reacted with a price recovery, while the STOCH indicator indicates that currently the energy needs to recover before the price increases further.
At this point, it is worth marking the first and current second attempt to return above ema cross 20o to the upward trend, which has been rejected at this time.
After unfolding the Trend Based Fib Extension tool, we can mark the first support zone from $64.86 to $62.94, then we can mark the second zone from $59.85 to $57.66, and then strong support at $54.84.
Looking the other way, we can similarly determine the resistance areas that the price must face. And here we see that currently the price has been rejected by the resistance zone from $66.70 to $69.17, only when it is broken we will see an attempt to attack the resistance at $72.30.
The CHOP index indicates that most of the energy has been used, on the RSI we approached the upper limit, to which the chart reacted with a price recovery, while the STOCH indicator indicates that currently the energy needs to recover before the price increases further.