LTCUSDT the Sleeping Giant | Resistance Confluence| Weekly Range
Evening Traders,
Recent developments on LTCUSDT have not been much, lagging behind the broader market in general. From a technical stand point it needs to break above the weekly resistance zone for an impulse move.
Points to consider,
- Immediate trend bullish
- Resistance multiple confluences
- RSI above 50
- Stochastics buy cross (larger time frame)
- Volume influx likely
LTCUSDT’s trend is respecting its local support establishing higher lows into the weekly range, the next trade location.
Current resistance has multiple confluences, the .382 Fibonacci and structural horizontal needs to be breached decisively to enter the weekly range
The RSI is above 50 whilst the stochastics has recently established a buy signal, both clear on the higher time frame.
This can be an indication that momentum is shifting
Volume influxes are probable in the weekly resistance zone, historically has been the case. A break above weekly resistance will be the long confirmation as LTCUSDT has been lagging against the market.
What are your thoughts?
Please leave a like and comment,
And remember,
“There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”― Yvan Byeajee
Recent developments on LTCUSDT have not been much, lagging behind the broader market in general. From a technical stand point it needs to break above the weekly resistance zone for an impulse move.
Points to consider,
- Immediate trend bullish
- Resistance multiple confluences
- RSI above 50
- Stochastics buy cross (larger time frame)
- Volume influx likely
LTCUSDT’s trend is respecting its local support establishing higher lows into the weekly range, the next trade location.
Current resistance has multiple confluences, the .382 Fibonacci and structural horizontal needs to be breached decisively to enter the weekly range
The RSI is above 50 whilst the stochastics has recently established a buy signal, both clear on the higher time frame.
This can be an indication that momentum is shifting
Volume influxes are probable in the weekly resistance zone, historically has been the case. A break above weekly resistance will be the long confirmation as LTCUSDT has been lagging against the market.
What are your thoughts?
Please leave a like and comment,
And remember,
“There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”― Yvan Byeajee
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