LTC/USDT Long-Term Trend: Bullish
Key Resistance Levels: 264.00, 265.00, 266.00
Key Support Levels: 226.49, 194.97, 169.05
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
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.
Buy Limit Order @ 240.43
TP 1 @ 258.42
TP 2 @ 264.00
Stop Loss @ 231.54
Trade Safely 🙂