LTC bulls tried to rally the bull run. But sadly the bassists swallowed them like ants.
They tried to resume the bullish force on April 21 and 22. But these days, the bass players sent them "flying." Managing to put them back at the peak of the bullish channel, where I placed 2 lines. In case of a break of this, to visualize a possible rebound.
I think that in the next 3 days, I mean at the beginning of Monday. We could see an attempt to go up. For now I consider that the bears continue to have victory, and the indicators collaborate this. RSI, MACD, OBV.
LTC will not be at a loss. As long as it continues like this, it has not once broken this channel and continues to hold strong with respect to supports.
We have ridiculously strong support in this price range.
But we also have strong resistance ... Although I am optimistic.
The long tail of today's candle suggests that the bulls are buying lower and trying to make a recovery. However, they are likely to face strong resistance near the 20-day EMA ($ 250).
If the price turns down from the 20-day EMA, it will suggest that sentiment has turned negative and traders are selling in rallies. That will increase the possibility of a break below the 50-day SMA. If that happens, the LTC / USDT pair could drop to $ 160
This negative view will be invalidated if the price rises from the current level and rises above $ 250
Support & Resistance
Support And Resistance
S: $219.050
S: $226.110
R: $235.310
R: $252.310
R: $267.590
R: $278.860
R: $300.860
R: $308.430
They tried to resume the bullish force on April 21 and 22. But these days, the bass players sent them "flying." Managing to put them back at the peak of the bullish channel, where I placed 2 lines. In case of a break of this, to visualize a possible rebound.
I think that in the next 3 days, I mean at the beginning of Monday. We could see an attempt to go up. For now I consider that the bears continue to have victory, and the indicators collaborate this. RSI, MACD, OBV.
LTC will not be at a loss. As long as it continues like this, it has not once broken this channel and continues to hold strong with respect to supports.
We have ridiculously strong support in this price range.
But we also have strong resistance ... Although I am optimistic.
The long tail of today's candle suggests that the bulls are buying lower and trying to make a recovery. However, they are likely to face strong resistance near the 20-day EMA ($ 250).
If the price turns down from the 20-day EMA, it will suggest that sentiment has turned negative and traders are selling in rallies. That will increase the possibility of a break below the 50-day SMA. If that happens, the LTC / USDT pair could drop to $ 160
This negative view will be invalidated if the price rises from the current level and rises above $ 250
Support & Resistance
Support And Resistance
S: $219.050
S: $226.110
R: $235.310
R: $252.310
R: $267.590
R: $278.860
R: $300.860
R: $308.430