LTC/USDT Potential Upward Movement

LTC/USDT Long-Term Trend: Bullish

Key Resistance Levels: 264.00, 265.00, 266.00

Key Support Levels: 226.49, 194.97, 169.05

Daily Chart:

The price on the higher time frame was in a clear uptrend where it managed to break a strong resistance @ 226.49 USDT with a big bullish candlestick. As well, we noticed that we are trading inside a bullish channel formation.

LTC/USDT Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the price is trading inside a bullish channel formation, and the price currently is forming a correction. This retracement may end at the area of confluence between the 50% Fibonacci retracement, the lower end of the channel and the strong support. This could lead to a move upward again in the same direction of the main trend.

Signal Idea:

Buy Limit Order @ 240.43

TP 1 @ 258.42

TP 2 @ 264.00

Stop Loss @ 231.54

Trade Safely 🙂