Hello ladies and gentlemen today i'm going analysis again LTO/USDT on daily time frame, let's jumped in to chart...
1)On chart we can see we start formed Descending triangle on April and now formation done, so we must wait and see which way price wanna breakout.
2)We have long Downtrend Line beginning April and price three times wanna breakout from Downtrend Line but failed and we can clearly see some Shooting Star candlestick, so now price wanna test again the Downtrend Line, if we can breakout behind the Downtrend Line and close candle above $.11 approxomently, we can hit $.2 level.
3)Now ppl also Accumulating some LTO on this price range - $.07 - $.1 so this mean soon price will explode to Upside,because a lot of ppl Accumulating some LTO and then withdrawing there assets from exchange to mainnet for Stake LTO and earn anual ROI 17.7% so now on mainnet Staked balance is 120,5Million of LTO, so this how Demand and Supply works and price will react soon.
4)LTO now have Strong Horizontal support level at $.08 area, so Bulls controlling at $.08 area and Bears controlling at $.1 area, so i think Bulls will win soon, because ppl Accumulating more into there bags.
5)Volume spikes tell us ppl buying at this price range and collecting more coins.
6)RSI looks strength, at 40 level RSI have Horizontal Support,RSI not extreme oversold now and good area to buy at this level.
Hope this analysis will help a lot of people so hit the like button)))
1)On chart we can see we start formed Descending triangle on April and now formation done, so we must wait and see which way price wanna breakout.
2)We have long Downtrend Line beginning April and price three times wanna breakout from Downtrend Line but failed and we can clearly see some Shooting Star candlestick, so now price wanna test again the Downtrend Line, if we can breakout behind the Downtrend Line and close candle above $.11 approxomently, we can hit $.2 level.
3)Now ppl also Accumulating some LTO on this price range - $.07 - $.1 so this mean soon price will explode to Upside,because a lot of ppl Accumulating some LTO and then withdrawing there assets from exchange to mainnet for Stake LTO and earn anual ROI 17.7% so now on mainnet Staked balance is 120,5Million of LTO, so this how Demand and Supply works and price will react soon.
4)LTO now have Strong Horizontal support level at $.08 area, so Bulls controlling at $.08 area and Bears controlling at $.1 area, so i think Bulls will win soon, because ppl Accumulating more into there bags.
5)Volume spikes tell us ppl buying at this price range and collecting more coins.
6)RSI looks strength, at 40 level RSI have Horizontal Support,RSI not extreme oversold now and good area to buy at this level.
Hope this analysis will help a lot of people so hit the like button)))
Trade closed: target reached:
Target Reached:TP
