The analyst updates his prediction prices (LTCOIN), where FOOO builds near Breakout Zone
The price of Litecoin has begun to show some strength again, and traders closely monitor because it is close to the main resistance level. In a tweet, senior analysts Cryptojobs3 indicated that LTC is creating a possible outbreak.
He stated that if the momentum is suspended, this may push about 95 to 98 dollars, but he also warned that he might turn into a bull trap if Steam buyers lose. The surveillance level is now $ 87.80.
Looking at the daily chart, the LTC price explodes from the downward direction that has been stuck for weeks. After the bounce of the yellow demand area, the price risen over the delusional trend line that was scoring upward moves. This is a promising sign that the trend may turn, with the start of the lowest levels.
Top of the current price is a red supply area, which can serve as the next large barrier. If Litecoin Price can penetrate this area and close it over it on the daily chart, this will be a strong sign that the momentum turns in favor of the bulls.
Ichimoku indicators transform the momentum of LTC price
In a separate scheme display, LTC interacts with the Ichimoku cloud, a technical indicator used to measure the direction and strength of the direction. The price is now testing the lower edge of the cloud, which often acts as resistance during vibrant conditions.
The delay period has started to move to more rough lands, while narrowing the future cloud indicates a possible change in the direction. The decisive closure over the cloud will confirm this transition and can draw more attention from momentum merchants.
The short -term Litecoin chart reveals a bullish pattern
On the 1H graph, there is a handle and a cup formation. This style, usually the continuous upward form, fits the comprehensive narration. The price of Litecoin is fluctuating in the region 87 – 88 dollars, and it is also The resistance point that was determined in a tweet.
The collapse here may be similar to the move towards 95 to 98 dollars. However, without strong size and follow -up, there is still a risk of short -term rejection.
Moreover, Cryptojobs3 notes that $ 87.80 is the main level of viewing. It can confirm the closure of the upper continuation. Meanwhile, caution is still appropriate because the trend can stop if purchase of momentum stumbles near the resistance. Size, candle structure should be monitored, and re -confirmed tests by merchants.
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