LTCUSD trade ideas
Still looks good!The other day I posted a chart with a possible inverse head and shoulders formation in the making. My analysis this morning confirms we are still on track! I have listed 2 shorts term price targets with an expected time frame of early to mid-February. Please remember this is just IMO and not financial advice by any means. Have a blessed day.
How to use Anchored VWAP There's considerable confusion about the practical use of anchored VWAPs. Personally, I leverage them as genuine resistance/support lines due to their integration of volume.
Consider the 2021 LTC top around 397 USD, often perceived as the resistance line prompting many to exit. However, in my Anchored VWAP trading approach, the true resistance stands at 136 USD. A sustained break and successful retest of this updated line indicate potential for prices surpassing the 2021 highs.
Likewise, the 2022 bottom at 43 USD served as support or resistance in various periods, now residing near 75 USD. From my perspective, the current LTC price seems below the prior 2022 lows, suggesting bearish control. I recommend NOT A BUY until we securely close above this price resistance.
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litecoin (LTC)Litecoin (LTC) demonstrates aggressive accumulation. Throughout the year, major players have been buying and continue to accumulate this coin. After the Litecoin halving, we witnessed a logical correction where it paused above a key level, demonstrating a precision similar to that of 2020
LTCUSD 548% profit projectionThis analysis for swinger who look at a good coin to hold for long period,
LTC already reach major support level, we can enter this coin to aim 548% profit projection after halving at $342.78
Rightnow support at $60.
If you are trade futures, make sure your margin level below $34
good luck
LTC Price Analysis: Bullish Surge Targets $100 MilestoneCurrent Rally: LTC exhibits a robust recovery, surpassing the 23.60% Fibonacci level.
Recent Growth: Litecoin experiences a 13% increase, reclaiming the $70 level.
Next Goal: Aiming to breach the $80 mark, potentially catapulting LTC towards $100.
Market Influence: Positive market trends and Bitcoin's potential rise above $50K boost Litecoin's prospects.
Technical Patterns: Rounding reversal and consistent bullish candles signal continued upward movement.
Trading Volume: A notable surge in trading activity bolsters LTC's price trajectory.
Price Trajectory: Litecoin trades at $72.96, showing a promising 1.54% intraday growth.
Key Resistance: The $80 level emerges as a significant hurdle, marking a decisive point for further gains.
Technical Indicators:
RSI: Indicates a strong momentum shift, surpassing key averages.
MACD: Positive crossover underlines growing bullish sentiment.
Market Recovery: Aligns with Litecoin's upward trend, suggesting a sustained rally.
Upside Potential: If LTC breaks past $80, a swift move to $100 is likely.
Bearish Scenario: A reversal could trigger a retest of the $70 support zone.
LTEUSD is moving within the 76 - 79.4 rangeLTEUSD is moving within the 76 - 79.4 range
General outlook
LETUSD has been trading in a bearish trend within the last day. The resistance level is now located at 79.46
If the pair rebounds from the resistance level, analysts recommend opening a Sell order with a Take Profit at the nearest support level. In case the breakout is confirmed, analysts suggest opening a Buy order.
The Support level is now located at 59.84 and 57.76