SasanSeifi|Will It Break Resistance or Test Lower Supports?

17 Eyl

Hey there, ✌ On the weekly timeframe, LTCUSDT price movement, after ranging around $84, faced a downward trend and corrected to the $50 level. Currently, the price is trading in a range around $63 with limited fluctuations.

In the long-term weekly timeframe, key support levels for Litecoin are at $50 and $42. To continue the upward trend, it’s essential for the price to break the critical resistance at $85 and hold above it. If this resistance is broken, the likelihood of further price growth increases.

For a clearer understanding of the price movement, it’s crucial to closely monitor Litecoin’s reaction to the $70 to $85 range. If the price fails to sustain above these levels, we may see a correction and a potential return to the major support zones.

🔶The chart is in logarithmic scale.

This analysis reflects my personal view and is not financial advice. If you found this helpful, feel free to like and comment – I’d love to hear your thoughts! Happy trading! ✌😊

8 Eki

İşlem aktif

In the latest analysis, it was noted that for the bullish trend to continue, it is crucial for the price to break the significant resistance level at $85 and establish itself above it. If this key resistance is broken, the likelihood of further price growth increases. To better understand the continuation of the price movement, it is essential to closely examine the price reaction in the $70 to $85 range.

Conversely, if the price fails to establish itself above these levels, the probable trend may shift towards a correction and a return to significant support levels.

As observed, the price is currently showing negative reactions at the $70 level, and the trend is in a range. From an analytical perspective, the previous report remains valid. If we see a confirmed sell signal in the timeframe, the possibility of further correction towards the desired support levels should be considered.

In the long-term weekly timeframe, key support ranges for Litecoin are at $50 and $42.