LTC is running up the yellow rising trend line. Price has hit the top of the descending triangle on the daily chart and needs to bounce off the yellow line to retest the top of the triangle. Fib retracement levels show support and resistances.
Nice idea on LTCUSD and there may be potential gains as you have identified by going long. For our set up, we have identified the key resistance and support levels. Currently, price is approaching our first support at 52.98. It is a horizontal overlap support and a 61.8% Fibonacci extension , 38.2% Fibonacci retracement. Stochastic is approaching support and we might see a corresponding bounce in price. If a corresponding bounce does occur, we may want to take a look at the 56.72 resistance level. It is a horizontal overlap support and a 50% Fibonacci retracement .
Please take a look at our idea and share with us what you think.
JLTraider
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Nice chart potter! If we breakout might have a rally like bch
Please take a look at our idea and share with us what you think.