#LPT/USDT Forming Falling Wedge#LPT
The price is moving within an ascending channel on the 1-hour timeframe and is adhering to it well. It is poised to break out strongly and retest the channel.
We have a downtrend line on the RSI indicator that is about to break and retest, which supports the upward move.
There is a key support zone in green at the price of 3.94, representing a strong support point.
We have a trend of consolidation above the 100-period moving average.
Entry price: 3.99
First target: 4.10
Second target: 4.20
Third target: 4.34
Don't forget a simple money management rule:
Place your stop-loss order below the support zone in green.
Once the first target is reached, save some money and then change your stop-loss order to an entry order.
For any questions, please leave a comment.
Thank you.
Lptusdsignals
LPTUSD Trading within the Buy Zone. Buy signal to $80.00.Livepeer (LPTUSD) broke today above the 1D MA50 (blue trend-line), following a two week consolidation below it. The 1D MA200 (orange trend-line), has been the Resistance since February 12. The long-term pattern is a Channel Up and as you see the mini-phases of Higher Highs and Higher Lows are identical both within the current Channel Up and that of 2020.
With the MACD patterns also similar among the Channels, a break above the 1D MA200 should be the buy confirmation signal we need for a rise towards the $80.00 Resistance.
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