RLinda ! LTCUSDT-> The MM trap or the power of bulls?
Updated
LTCUSDT coin feels quite confident after a strong shake-up on the cryptocurrency market.
Over the last 24 hours bitcoin has redeemed growth by 2.6%, followed by the activity of the whole market.
(Chart 1. LTC daily timeframe. technical analysis)
On the daily chart we see the SMA narrowing into a narrow range. The price is still supported by the daily MA50 and tries to test the resistance of the daily MA-200.
Daily RSI is in a bullish mood. Indicator is in the green zone
Daily MACD is forming a new moving average crossing and the chart is moving into the green zone. Indicators are rebalancing after a surge in volumes
On the main chart, we see price moving between 64-47.5. Price is breaking the global channel resistance and forming a consolidation in the long zone. I assume that LTC may show growth in the near future. Short-term target - resistance 74.4, medium-term target - liquidity zone 96.3
Regards R. Linda!
Over the last 24 hours bitcoin has redeemed growth by 2.6%, followed by the activity of the whole market.
(Chart 1. LTC daily timeframe. technical analysis)
On the daily chart we see the SMA narrowing into a narrow range. The price is still supported by the daily MA50 and tries to test the resistance of the daily MA-200.
Daily RSI is in a bullish mood. Indicator is in the green zone
Daily MACD is forming a new moving average crossing and the chart is moving into the green zone. Indicators are rebalancing after a surge in volumes
On the main chart, we see price moving between 64-47.5. Price is breaking the global channel resistance and forming a consolidation in the long zone. I assume that LTC may show growth in the near future. Short-term target - resistance 74.4, medium-term target - liquidity zone 96.3
Regards R. Linda!
Trade closed: target reached
(Chart 2. The result in the moment )
LTCUSD +42% in our direction. Awesome result after accurate technical analysis ;)
The price is subject to bulls' pressure and breaks through the resistance, forming a bullish momentum to the local maximum of 83.66
It is still difficult to talk about a trend change, as the whole market is under pressure of fundamental factors, but this does not prevent me from looking for such gorgeous scenarios)
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