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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.

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