LTC/USDT 4HInterval Resistance and Support
Hello everyone, I invite you to review the chart of LTC in pair to USDT, also on a four-hour interval. First of all, we will use the blue lines to mark the uptrend channel in which the price is moving in the lower border.
Moving on, we can move on to marking support areas when the correction begins to deepen. And here, the first support is at $89.60, the second support is at $84.76, the third support is at $81.05, and then the fourth support is at $77.20.
Looking the other way, we see that the price has hit an important and strong resistance at 0.786FIB at $97.03 from which it rebounded, but when it manages to break it, another strong resistance will appear at $105.85.
Please look at the CHOP index, which indicates that the energy is gathering strength, the MACD indicates a local downtrend, while the RSI has a strong rebound, which may positively affect creating room for new growth.
Moving on, we can move on to marking support areas when the correction begins to deepen. And here, the first support is at $89.60, the second support is at $84.76, the third support is at $81.05, and then the fourth support is at $77.20.
Looking the other way, we see that the price has hit an important and strong resistance at 0.786FIB at $97.03 from which it rebounded, but when it manages to break it, another strong resistance will appear at $105.85.
Please look at the CHOP index, which indicates that the energy is gathering strength, the MACD indicates a local downtrend, while the RSI has a strong rebound, which may positively affect creating room for new growth.