LITECOIN 4H (LTC)

5 gün önce

Litecoin is one of the best performing majors in recent weeks and finds itself around the mini range highs in an area of key resistance. The way I'm looking at this chart is in two separate sections of the same mini range, a lower range and upper range with an area of indecision between that separates the two.

Despite how choppy the market has been price can be clearly analyzed in this format:

Lower range - Clear level of support where buyers are stepping into the market aggressively to rebound any sell off and pushing price up further towards the 1D 200 EMA. There is one instance of price sweeping below range low and quickly reclaiming back above, that move has been a catalyst for bullish PA ever since with a strong bullish structure.

Upper range - The top of the upper range has yet to be retested as there is major resistance area position just before it, this bearish orderblock has rejected 4 times and is now being tested for a 5th at time of writing. It is important to note that the 1D 200 EMA is currently at its highest point during this rangebound environment, coupled with higher highs and higher lows on the low time frames, Litecoin is looking good currently.

However, bitcoin is still very much the dominant force in the market, and without bitcoin paving the way I can't see LTC making a breakout move just yet. In order for Litecoin to make a run for the highs I would like to see BTC @ $98,000 with a full reclaim of the weekly midpoint (See weekly outlook).

To conclude, Litcoin is in better shape than most other coins but this rangebound environment should be treated as such until proven otherwise, no action needs to be taken in the main bulk of either the upper or lower range, just the tops and bottoms are worth acting on IMO.

4 gün önce

Not

Looks like a rejection for the 5th time at the bearish OB, next support should be around the $124 area or the 1D 200 EMA.

3 gün önce

Not

6th rejection off the bearish OB, the resistance level is holding strong but the pullbacks are becoming shallower. Something has to give soon.

evvelsi gün

Not

Despite a black swan event in the BYBIT hack, LTC maintains its LTF bullish structure with the higher lows approaching the resistance level, structurally we should get some clarity in direction within a week IMO.