Long

LPTUSDT → Breakout of multi-month trend resistance.

Updated

is moving into the phase of realizing the accumulated potential. Against the background of stalled BTC, LPT / TetherUS looks confident enough to continue its growth after breaking through resistance.

The cryptocurrency market is quite active lately. Overall capitalization, flagship, altcoins are warming up after a prolonged winter. Prices are updating multi-month highs and that is encouraging.
LTP is still under bear market pressure and only today the pair is starting to show prerequisites for a possible trend change and realization at 12.00.
The price is forming a pre-breakdown consolidation against the trend resistance. After retest and false breakdown the price does not fall, a strong support area is formed and on the background of another retest the resistance is broken. The tandem set-up plays the role of a reversal set-up and clearly indicates the formation of bullish potential. Moving averages are starting to show a possible market reversal.

Support levels: 6.9, 5.96, 5.35
Resistance levels: 7,56, 9.31, 12.00

Market consolidation above the previously broken trend resistance and the 7.0 area will form a bullish potential that may activate a market rally towards these targets

Regards R. Linda!

Note

Trade closed: target reached

price reaches the first target
it is acceptable to close part of the volume, move the stop loss and wait for the second target to be reached

RLinda

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