SasanSeifi|Will It Break Resistance or Test Lower Supports?
2024-09-17

Hey there, ✌ On the weekly timeframe,  BINANCE:LTCUSDT  price movement, after ranging around $84, faced a downward trend and corrected to the $50 level. Currently, the price is trading in a range around $63 with limited fluctuations.

In the long-term weekly timeframe, key support levels for Litecoin are at $50 and $42. To continue the upward trend, it’s essential for the price to break the critical resistance at $85 and hold above it. If this resistance is broken, the likelihood of further price growth increases.

For a clearer understanding of the price movement, it’s crucial to closely monitor Litecoin’s reaction to the $70 to $85 range. If the price fails to sustain above these levels, we may see a correction and a potential return to the major support zones.

🔶The chart is in logarithmic scale.

This analysis reflects my personal view and is not financial advice. If you found this helpful, feel free to like and comment – I’d love to hear your thoughts! Happy trading! ✌😊