Partners, good afternoon! The current LTC market has reached a critical point, and many are watching the market for direction. Today, let's break down the technical signals.
First, looking at the core indicators, the RSI (14) is currently at 43.01, which is in a neutral and slightly weak area, not yet at the oversold level. This indicates that the price is not in an extreme state, and there is a high probability of short-term oscillation and consolidation within a range, rather than a sudden drop or surge. Next, looking at trend indicators, the Super Trend has already given a 'sell' signal, and the price is steadily below the middle band of the Bollinger Bands, with the middle band position at $111.13, clearly indicating a weak short-term momentum.
More critically, there is pressure from moving averages, with EMA20 at 109.95 and EMA55 at 110.78 both blocking the current price from above, creating two layers of resistance. This means that if we want to break upwards, we must first withstand the selling pressure in these two areas, as we can't proceed without sufficient buying support.
However, thereโs no need to be too pessimistic. Overall, there is decent support around 106, and turning bullish after a small pullback has technical basis. In terms of operation, Yang Ge offers a suggestion: consider going long if it pulls back to the 105.50-104.2 range, with targets set in three steps: first aim for 106.80, then 108.00, and finally look towards around 109.20.
Lastly, a reminder: market changes quickly, so be sure to base your actions on real-time operations, set stop-losses flexibly, and donโt stubbornly hold onto the market.
#LTC