Trend Overview:
LTC/USD remains in a bullish trend, characterized by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher.
Key Technical Levels:
Support: 865 (primary pivot), followed by 845 and 820
Resistance: 956 (initial), then 1000 and 1045
Technical Outlook:
A pullback to the 865 level, which aligns with the previous consolidation zone, could act as a platform for renewed buying interest. A confirmed bounce from this support may trigger a continuation toward the next resistance levels at 956, 1000, and ultimately 1045.
Conversely, a daily close below 865 would suggest weakening bullish momentum. This scenario would shift the bias to bearish in the short term, potentially targeting 845 and 820 as downside levels.
Conclusion:
LTC/USD maintains a bullish structure while trading above the 865 support. A bounce from this level would validate the consolidation as a continuation pattern, with upside potential toward the 956 area. A breakdown below 865, however, would invalidate this view and suggest deeper corrective risk.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
LTC/USD remains in a bullish trend, characterized by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher.
Key Technical Levels:
Support: 865 (primary pivot), followed by 845 and 820
Resistance: 956 (initial), then 1000 and 1045
Technical Outlook:
A pullback to the 865 level, which aligns with the previous consolidation zone, could act as a platform for renewed buying interest. A confirmed bounce from this support may trigger a continuation toward the next resistance levels at 956, 1000, and ultimately 1045.
Conversely, a daily close below 865 would suggest weakening bullish momentum. This scenario would shift the bias to bearish in the short term, potentially targeting 845 and 820 as downside levels.
Conclusion:
LTC/USD maintains a bullish structure while trading above the 865 support. A bounce from this level would validate the consolidation as a continuation pattern, with upside potential toward the 956 area. A breakdown below 865, however, would invalidate this view and suggest deeper corrective risk.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.