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

Trade closed: target reached

short trade TP target reached, no long trade was executed

SiDec

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SiDec