LTC/USDT 1DInterval Resistance and Support
Hello everyone, I invite you to review the LTC chart in pair to USDT, on a one-day interval. First, we will use the blue lines to mark the downtrend channel where the price is moving in the lower range, while inside the channel we can mark the local downtrend line under which the price is located.
Moving on, we can move on to marking support areas when the current correction begins to deepen. And here the price is in front of a very strong support at $75.55, but if the support is broken then the next support is at $69.44.
Looking the other way, we see first resistance at $78.88, second resistance at $82.11, then third resistance at $84.88, then we have a very strong resistance zone from $87.48 to $91, $21.
At this point, it is worth noting that the current price drop caused the price to drop below the EMA Cross 200 line, which indicates a return to a strong downtrend.
Please look at the CHOP index, which indicates that the energy has been used, the MACD confirms the current downtrend, while the RSI has a rebound to the lower end of the range, which may indicate the imminent end of the correction and the upcoming increase.
Moving on, we can move on to marking support areas when the current correction begins to deepen. And here the price is in front of a very strong support at $75.55, but if the support is broken then the next support is at $69.44.
Looking the other way, we see first resistance at $78.88, second resistance at $82.11, then third resistance at $84.88, then we have a very strong resistance zone from $87.48 to $91, $21.
At this point, it is worth noting that the current price drop caused the price to drop below the EMA Cross 200 line, which indicates a return to a strong downtrend.
Please look at the CHOP index, which indicates that the energy has been used, the MACD confirms the current downtrend, while the RSI has a rebound to the lower end of the range, which may indicate the imminent end of the correction and the upcoming increase.
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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.
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.