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LTC Perpetual Futures Contract
Short

LTCUSD / REMAIN BELOW TURNING LEVEL - 4H

By ArinaKarayi
Updated
LTCUSD

HELLO TRADERS

  • Tendency , the price is under bearish pressure , until trading below turning level at 68.30 .

  • Turning Level: The price is currently trading below this level around 68.30 . As long as it remains stable and stays below this level, a drop toward the support level is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level can be expected.

  • Resistance Level (1): around 73.17 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 68.30. If the price reaches 73.17 , and stabilizes above it, it will likely attempt to reach resistance level (2) .

  • Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 76.44 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 79.83 .

  • Support Level (1): As long as the price remains below the turning point of 68.30, it suggests a drop towards 61.62 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2).

  • Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 57.61 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 52.93 .

  • Channel Trend: the trading rate within the descending channel.


TARGET LEVEL :
  • RESISTANCE LEVEL : 73.17, 76.44 , 79.83 .
  • SUPPORT LEVEL : 61.62 , 57.61 , 52.93 .
Trade active
UPDATE

the price decline +360 pip profit .
currently prices it will be attempt to reach support level (1) at 73.17 .
Trade active
decline + 410 pip profit .
still continues a downtrading .
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