Litecoin (LTCUSD) is showing early signs of a potential bullish reversal after bouncing off a strong demand zone around $70–$76 (highlighted in orange). Here's a breakdown of the technical setup:
Key Technical Zones:
Support Zone: $70–$76 (High Volume Node + Demand Area)
Resistance 1: $81.27 – Immediate resistance that could turn into support if broken.
Resistance 2: $104.79 – A key level to watch if momentum continues.
Supply Zone: $116.73 – $131.03 (Marked by heavy previous selling pressure)
Bullish Signals:
Price has tested the demand zone multiple times and held, indicating strong buyer interest.
LTC is now pushing above the lower consolidation zone, aiming for the $81.27 resistance.
Volume around this area is tapering, which could lead to a breakout rally if bulls maintain control.
Trade Idea:
Aggressive Entry: On a confirmed 4H candle close above $81.27.
Conservative Entry: Wait for a retest of $81.27 as support with bullish confirmation.
Targets: $104.79 short-term, $116–$131 longer-term.
Stop Loss: Below $75 support zone to manage risk.
Outlook:
If bulls manage to break and hold above $81.27, Litecoin could enter a mid-term rally toward the $100–$130 zone. However, failure to hold current levels might push price back to retest the demand zone.
Let me know your thoughts – are you bullish or bearish on LTC this month?
#Litecoin #LTCUSD #Crypto #Altcoins #TechnicalAnalysis #TradingView #SupplyAndDemand #LuxAlgo
Key Technical Zones:
Support Zone: $70–$76 (High Volume Node + Demand Area)
Resistance 1: $81.27 – Immediate resistance that could turn into support if broken.
Resistance 2: $104.79 – A key level to watch if momentum continues.
Supply Zone: $116.73 – $131.03 (Marked by heavy previous selling pressure)
Bullish Signals:
Price has tested the demand zone multiple times and held, indicating strong buyer interest.
LTC is now pushing above the lower consolidation zone, aiming for the $81.27 resistance.
Volume around this area is tapering, which could lead to a breakout rally if bulls maintain control.
Trade Idea:
Aggressive Entry: On a confirmed 4H candle close above $81.27.
Conservative Entry: Wait for a retest of $81.27 as support with bullish confirmation.
Targets: $104.79 short-term, $116–$131 longer-term.
Stop Loss: Below $75 support zone to manage risk.
Outlook:
If bulls manage to break and hold above $81.27, Litecoin could enter a mid-term rally toward the $100–$130 zone. However, failure to hold current levels might push price back to retest the demand zone.
Let me know your thoughts – are you bullish or bearish on LTC this month?
#Litecoin #LTCUSD #Crypto #Altcoins #TechnicalAnalysis #TradingView #SupplyAndDemand #LuxAlgo
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.