LTC → Price exit from accumulation ↑

5 Sep

LTCUSDT is coming out of accumulation, breaking the structure of the “descending wedge” pattern - a rather strong bullish pattern. Price is still pinned by resistance, but the bulls have a chance...



Globally, there is no trend in the market. The price is in a sideways movement between 114.0 - 56.0, which I consider a positive reason for a possible rise, as the price moves between the levels in a range. But we have prerequisites for possible growth (consolidation above MA-50, break of the wedge resistance), theoretically the price can head towards the resistance of the global range.
Emphasis on the area of 0.5 fibo - 67.8. If the bulls successfully manage to keep the defense above the mentioned zones, in the mid-term the coin can show a good realization towards 76.9 - 88.6.

Resistance levels: 67.8, 76.9
Support levels: descending line, MA-50, 0.5 Fibo

Perhaps the primary retest of 67.8 will not bring success and the price may form a small correction, but the gradual return of the price to the retest will increase the chances of a breakout. A fixing above the level will be a good signal for growth!

Rate, share your opinion and questions, let's discuss what's going on with ★ LTCUSDT ;)

Regards R. Linda!