LTC Traders Monitor $123 Support as RSI Signals Waning Strength
2025-01-17
Category: None

BINANCE:LTCUSDT  has demonstrated resilience, with recent fluctuations bringing it closer to key support at $136.74. The EMA indicators show a steady upward trend, reflecting short-term bullish momentum. However, as the MACD histogram narrows, traders should watch for a potential consolidation phase. The RSI, recently descending from overbought levels, signals that bullish pressure might be waning, making $123.42 and $117.85 crucial supports to monitor for potential reversals.

For long positions, a bounce from $123.42 with a confirmed bullish MACD crossover could serve as an entry point, while exits near $137.25 or $138.62 would maximize gains. For short trades, a break below $116.54 might offer opportunities, with a downside target near $123.42.
