Long on Litecoin (LTC)
Entry: 94.96 USDT (Breakout of 200 MA on the daily chart)
The LTC price has broken the 200 MA, which is a strong bullish signal. This confirms the potential for continued growth, especially if the consolidation above this level is accompanied by an increase in volume.
Targets:
Target 1: 99.12 USDT – the nearest resistance zone, where partial position closure is possible.
Target 2: 102.7 USDT – the next important level, coinciding with a liquid area, where the majority of profit can be secured.
Justification:
Technical analysis: the breakout of the 200 MA indicates a trend change in favor of buyers.
Volume analysis (VPVR) shows a sparse zone above 95 USDT, which reduces resistance for growth.
Trend dynamics: the price is holding above key moving averages, strengthening the bullish sentiment.
Stop-loss: 92.40 USDT
If the price goes below 92.40 USDT, the long scenario becomes irrelevant.
Recommendation:
Take partial profits at target levels. In case of a breakout at 102.7 USDT, further growth can be considered. Risk management is essential.
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