$LPT / USDT Showing Signs of Recovery: Watch for Confirmation! 📈
$LPT is currently trading at $4.375, down -4.75% at $4.37 compared to the previous day. However, the 4-hour chart on Binance indicates some positive momentum, with the current price at $4.375 +0.046 (+1.06%). This suggests a potential short-term bounce after a recent downtrend.
Key Observations:
Recent Range: The 24-hour high reached $4.650, while the low touched $4.196, highlighting the recent volatility and the establishment of a new low.
Trading Volume: The 24-hour volume for
$LPT is 863,003.02, with a USDT volume of 3.79M. The increasing volume during this potential bounce could signal growing interest.
Chart Analysis (4-Hour): After a significant drop, the price appears to be finding some support around the $4.20 level. The recent green candles on the 4-hour chart suggest a potential shift in short-term momentum.
Potential Scenarios and Trading Considerations:
Potential Reversal: If LPT can break and hold above the previous swing high around $4.50, it could signal a more substantial recovery towards the $4.65 (24-hour high) and potentially even the $4.80 levels.
Resistance Levels: Watch the $4.50 and $4.65 levels as immediate resistance. A strong break above these levels would be bullish.
Support Levels: The $4.20 level is crucial support. Failure to hold above this could lead to further downside.
Confirmation Needed: While the current bounce is encouraging, it's essential to wait for confirmation of sustained upward momentum before considering long positions.
Consider a cautious entry on a break and retest of the $4.40 level with increasing volume.
Initial Target: Aim for the $4.50 resistance.
Secondary Target: If momentum continues, target the $4.65 (24-hour high).
Stop-Loss: Place a stop-loss below the recent low of $4.19, or slightly above at $4.25 for a tighter risk management.
Important Considerations:
The broader market sentiment will likely influence
$LPT 's price action.
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