LTC/USDT Long-Term Trend: Bullish
Key Resistance Levels: 207.17, 214.03, 230.23
Key Support Levels: 196.01, 185.00, 177.60
The price on the higher time frame it is trading inside an expanding wedge formation where the price managed to break the bullish flag formation to the upside. Also, we can notice that the price is posting higher highs and lows signaling that we are in a clear uptrend.
LTC/USDT Medium-Term Trend: Bullish
On the 4-hr time frame, the price is trading inside a bullish channel formation where the price is expected to post a correction count towards the area of confluence. This zone is made of a strong support and the lower end of the channel around the 196.39 USDT mark. This could lead to a move upward again in the direction of the main trend.
Buy Limit Order @ 196.39
TP 1 @ 205.02
TP 2 @ 207.17
Stop Loss @ 192.08
Trade Safely 🙂