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LTCUSDT

LTCUSDTThe LTC was so much on hype and even I was expecting more up moves but after analyzing the chart what I found is: LTC rejected 2 times from the resistance and break the support line of the rising wedge pattern. Now the flow is going downside and it may reach the support area. I hope you will like this idea. Please don't forget to like and follow for more upcoming ideas :) PLESAE NOTE: Kindly manage your risk! This analysis is based on the chart trend, pattern, EMA & RSI . This is only for the education purpose.
Short
by Sam_Trade_Analyzer
#Litecoin in a breakout, Rallies 67% from November lows Past Performance of Litecoin Litecoin remains within a bullish breakout formation, doubling in the past six months. The coin is within a breakout formation at spot rates, clearing critical resistance levels. Accordingly, buyers have re-established themselves, setting the base for a possible recovery. #Litecoin Technical Analysis At spot rates, LTC is up 67 percent from November lows, reversing losses of early November 2022. Because of this, buyers have the upper hand. Subsequently, every low above $70, flashing with November highs, presents a loading opportunity for aggressive traders. This bullish preview holds considering the failure of sellers to push back prices, reversing gains made thus far. Besides, the upside momentum has resumed after waning in late November. From this setup, LTC bulls appear to set their eyes at $100, a psychological reaction level. What to Expect from #LTC? There are fundamental factors behind the revival, a welcomed move after losses in 2022. The immediate support is at $70. If bulls sustain this level, LTC may post more upsides in the short term. Resistance level to watch out for: $100 Support level to watch out for: $70 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
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