LTC Trade Zones: Short or Long?LTC has been making some moves recently, with a solid rise getting close to a key high. But the current price action hints at an ABC corrective structure, so a pullback could be on the way.
Short Setup:
Entry: Between the 0.618 and 0.786 Fibonacci retracement of the current wave
Stop Loss: $141.4 (the previous high)
Target: $130.7
R:R: About 2:1
Long Setup:
Entry: Around $130, with confirmation
Stop Loss: $126.45
Targets:
First at $134
Second at $147 (the key high)
R:R: A nice 5:1 potential
Why These Levels?
The $130 support zone lines up with the 1:1 Trend-Based Fibonacci Extension ($130.29)
It’s also near a previous swing high, adding more weight to it as a strong level
Plan:
If price moves into the retracement zone, a short trade targeting $130 makes sense
If it hits the $130 support and shows strength, a long setup targeting $134 and $147 could be a great play
