#LTCUSDT Signals a Bullish Revolution💎#LTCUSDT shows great potential on the weekly chart, primarily due to a significant bounce off a key demand zone. Previously acting as a supply area, #Litecoin demonstrated a clear rejection of this level in March, indicating a shift in market dynamics.
💎To validate the bullish trend, we need to witness the formation of a new higher high, preferably accompanied by a weekly close above the most recent higher high. This would serve as a strong confirmation that the trend is indeed changing to bullish. Once the breakout occurs, the MCP team will diligently search for the most attractive buying opportunities, ensuring a favorable risk-to-reward ratio.
💎In the event of an uptrend, we could potentially witness explosive growth ranging from 200% to over 300%. The initial resistance lies at the 38.2% Fibonacci retracement level, which aligns with the Volume Profile level around $182. However, if the price surpasses this level, we can anticipate an impressive surge towards $270, corresponding to the widely used 61.8% Fibonacci retracement level.
💎Although we are currently in a waiting period before the storm, actively seeking the perfect buying opportunity, caution remains a priority. We will closely monitor the demand zone, as any significant break below it would be unfavorable for the bullish scenario.
