Trend Overview:
Litecoin (LTC/USD) maintains a bullish structure, supported by an ongoing rising trend. The recent intraday price action suggests a corrective pullback, which may provide an opportunity for trend continuation if key support levels hold.
Key Technical Levels:
Support: 930 (primary), followed by 900 and 874
Resistance: 1,040 (initial), then 1,090 and 1,120
Technical Outlook:
A pullback to the 930 level, which aligns with a prior consolidation area, may present a bullish setup. A confirmed bounce from this support could initiate the next leg higher, with upside targets at 1,040, 1,090, and 1,120 over the longer term.
On the downside, a daily close below 930 would invalidate the bullish outlook, opening the door for a deeper retracement toward 900 and possibly 874.
Conclusion:
LTC/USD remains bullish above the 930 support level. A successful retest of this level could trigger continuation toward the 1,100+ range. However, a break below 930 would turn the short-term outlook bearish, signaling potential for deeper downside extension.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Litecoin (LTC/USD) maintains a bullish structure, supported by an ongoing rising trend. The recent intraday price action suggests a corrective pullback, which may provide an opportunity for trend continuation if key support levels hold.
Key Technical Levels:
Support: 930 (primary), followed by 900 and 874
Resistance: 1,040 (initial), then 1,090 and 1,120
Technical Outlook:
A pullback to the 930 level, which aligns with a prior consolidation area, may present a bullish setup. A confirmed bounce from this support could initiate the next leg higher, with upside targets at 1,040, 1,090, and 1,120 over the longer term.
On the downside, a daily close below 930 would invalidate the bullish outlook, opening the door for a deeper retracement toward 900 and possibly 874.
Conclusion:
LTC/USD remains bullish above the 930 support level. A successful retest of this level could trigger continuation toward the 1,100+ range. However, a break below 930 would turn the short-term outlook bearish, signaling potential for deeper downside extension.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
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.
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.