Breaking News

LTC/USDT Potential Upward Movement

LTC/USDT Long-Term Trend: Bullish

Key Resistance Levels: 205.15, 222.55, 237.60

Key Support Levels: 191.26, 186.01, 164.05

Daily Chart:

The pair is trading within a wedge formation where it managed to breakout from the upper side of this pattern. We have a 61.80 % Fibonacci retracement level @ 182.48 USDT level where buyers succeeded to push it to the upside.

LTC/USDT Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the price failed to break the strong support @ 186.01 USDT level and this led to a move upward. The downtrend (white line) has been broken. A lower correction is expected, and then a rally toward the 205.15 USDT mark.

Signal Idea:

Buy Limit Order @ 191.20

TP 1 @ 205.16

TP 2 @ 222.55

Stop Loss @ 184.32

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!

Free Robot!