I invite you to review the LTC chart on a one-day interval. Let's start by defining the upward trend channel with the yellow lines, from which the price broke out at the bottom, but here we did not see a dynamic correction, only a movement under the lower edge of the channel.
Let's start by marking support points for the price and we can see that first of all we have strong support which currently holds the price at $69, but if the price drops lower, we have another strong support at $56, and then we can see that the price has more room for a drop to around $40, which is unlikely.
Looking the other way, we can similarly determine the resistance areas that the price must face. And here we see that currently the price has been rejected by the resistance at the level of $76, then we can see a strong move to around $98, and then we can see the resistance at the level of $114, which previously effectively rejected the upward movement.
On the RSI indicator, we can determine the downward trend line from which we moved upwards from the moesijce to a potential upward movement, while on the STOCH indicator, the upward movement ended with a dynamic recovery, which again gives room for growth.
Let's start by marking support points for the price and we can see that first of all we have strong support which currently holds the price at $69, but if the price drops lower, we have another strong support at $56, and then we can see that the price has more room for a drop to around $40, which is unlikely.
Looking the other way, we can similarly determine the resistance areas that the price must face. And here we see that currently the price has been rejected by the resistance at the level of $76, then we can see a strong move to around $98, and then we can see the resistance at the level of $114, which previously effectively rejected the upward movement.
On the RSI indicator, we can determine the downward trend line from which we moved upwards from the moesijce to a potential upward movement, while on the STOCH indicator, the upward movement ended with a dynamic recovery, which again gives room for growth.