Hello Traders!
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- Based on our 1D time chart frame we can see LTC broke out from the classic falling wedge pattern and is trying to hold above the Lower bound ( blue trend line ) ,buyers successfully took the price higher from the strong demand zone between 100$ ~ 1007$ suggesting that buyers were interesting in buying LTC at this level showing us a decent amount of volume , yet price is retesting the nearest resistance zone if succeed buyers will be able to take price higher towards level 166$ and 194$ respectively.
-Meanwhile if we zoom in to lower time frame on 4H we can see that price action is respecting the blue trend line acting as non horizontal support where EMA20 exist and supporting the price as well.
Will wait and see if buyers will keep their momentum and take price higher or else price will fall back to local resistance 123$ and even lower ( unlikely ) . Good entry zone would be 140$
Good Luck Traders!
- Please push the like button if you like the content or drop a comment to share your idea!
- Based on our 1D time chart frame we can see LTC broke out from the classic falling wedge pattern and is trying to hold above the Lower bound ( blue trend line ) ,buyers successfully took the price higher from the strong demand zone between 100$ ~ 1007$ suggesting that buyers were interesting in buying LTC at this level showing us a decent amount of volume , yet price is retesting the nearest resistance zone if succeed buyers will be able to take price higher towards level 166$ and 194$ respectively.
-Meanwhile if we zoom in to lower time frame on 4H we can see that price action is respecting the blue trend line acting as non horizontal support where EMA20 exist and supporting the price as well.
Will wait and see if buyers will keep their momentum and take price higher or else price will fall back to local resistance 123$ and even lower ( unlikely ) . Good entry zone would be 140$
Good Luck Traders!