LTC Technical Analysis: Bullish Momentum or Support Test at Crucial Levels?
LTC is trading under the resistance zone (Green) at $72.96 – $76.19 and we are expecting a bullish breakout very soon because we are seeing an increase in volume and improving macro market sentiment.
There are 2 scenarios
Bullish Scenario
If the price breaks out from the Green zone with volume we might see the price could reach the next resistance zone (Blue) at $109.69 – $119.41.
Bearish Scenario
If the price is rejected from this Green zone we might see the price test support zone (Yellow) at $56.19 – $60.79. This zone is consistently providing a strong support zone. The price has been bounced back from this zone many times.
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