Hello everyone, I invite you to review the chart of LTC in pair to USDT. Let's start by marking the local downtrend line with a yellow line as we can see the price is about to try to break this line.
Moving on, we can move on to marking support areas when we start a larger correction. However, here we see that the price is at the upper border of the $93 to $87 strong support zone, when the price falls below this zone, the next support is at $80.
Looking the other way, we can mark the first support at $98.99, then we have a strong resistance zone from $105 to $109, only after an upward exit from this zone, the price will move towards resistance at $114.87.
When we turn on the EMA Cross 50 and 200, we can see that the price is moving just below the EMA Cross 200 and is close to an uptrend, which would indicate a return to the uptrend.
The CHOP index, which indicates that we have a lot of energy for the upcoming move, the MACD remains in the local uptrend, while the RSI has a visible increase, but there is room for the price to go a little higher in the coming hours.
Moving on, we can move on to marking support areas when we start a larger correction. However, here we see that the price is at the upper border of the $93 to $87 strong support zone, when the price falls below this zone, the next support is at $80.
Looking the other way, we can mark the first support at $98.99, then we have a strong resistance zone from $105 to $109, only after an upward exit from this zone, the price will move towards resistance at $114.87.
When we turn on the EMA Cross 50 and 200, we can see that the price is moving just below the EMA Cross 200 and is close to an uptrend, which would indicate a return to the uptrend.
The CHOP index, which indicates that we have a lot of energy for the upcoming move, the MACD remains in the local uptrend, while the RSI has a visible increase, but there is room for the price to go a little higher in the coming hours.