LTC on the Edge: Will We See a Bullish Breakout or a Fall?

23 Tem

Yello, Paradisers! Could #Litecoin's long-awaited breakout be just around the corner? Let's dive into the recent analysis of the #LTCUSDT and see what's going to happen:

💎Currently, LTC is tightly compressed between the trend lines of a falling wedge pattern, and we're anticipating a bullish breakout soon. Why? Because we're seeing increasing volume and improving macro market sentiment—key indicators of a potential upward movement.

💎50EMA is about to cross, a bullish signal that often precedes price increases. The POC of VRVP is also Reinforcing this bullish bias by acting as support within the major support zone.

💎But what if #Litecoin gets rejected at the upper trend line of the falling wedge? In that case, we might see a retest of the bullish order block (OB) at $64.19. This area has consistently provided strong support for LTCUSDT and is packed with liquidity.

💎However, if LTC fails to rebound from $64.19, the next critical level to watch is the lower support at $57-$60. The probability of a rebound from this level is significantly higher.

💎Should LTC continue to fall, the bears could take control, potentially leading to a bearish continuation.

Stay disciplined, Paradisers, and watch those key levels for profitable trading!

MyCryptoParadise
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