LTC/USDT 4H Chart ReviewI invite you to review the LTC to USDT chart also on a four-hour interval. At the beginning, we can use the blue lines to mark the downward trend channel in which we move along the lower border.
Let us now move on to determining supports for the LTC price in case the current correction deepens and here we can notice that we are at the support level of $59.12, but if we break out of it below, the next support will be at $55.99.
Looking the other way, similarly using the fib Retracement tool, we can determine the resistance areas that the price must face. And here we see that the first resistance zone is from $61 to $63, then we have the second zone from $64 to $66, then resistance at $68.18, and then strong resistance at $70.69.
The CHOP index indicates that the energy has been used up and is slowly growing, on the RSI we exceed the lower limit, which may end the current correction or slow it down, while looking at the STOCH indicator we see that the energy is running out, which can also give us a moment of rest before further movement.
