Whether or not the price defense will be successful is the key

Mar 6, 2023

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The key is whether the price can sustain the price by rising above the HA-High indicator on the 1W chart.

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(LTCUSDT 1D chart)
You need to make sure you are supported and able to ascend near 85.91, the lower point of the ascent channel.

If not, you should check for support around 74.32-81.33.


As long as it does not fall below the long-term downtrend line (1), we expect it to continue its uptrend.


In order to continue the full-fledged upward trend, it is expected that it will start when it rises above 89.95-100.50.


Looking at the 'Vol & Trend' indicator, it shows that the selling force is increasing while the trading volume is showing sideways.

Therefore, I think it is important to have support around 85.91.

If the selling force continues to rise, there is a possibility that it will fall out of support around 85.91, but for now, we can see that the price is well defended.

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** All descriptions are for reference only and do not guarantee profit or loss in investment.

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Mar 6, 2023

Note

(LTCBTC 1W chart)

It is expected that it will need to rise above 0.005788-0.008090 to dissipate the bullish force.