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Price breaks old peaks... Are we on the verge of a massive upward wave?
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💡 Quick technical analysis (4-hour frame):
✅ Strong and clear rise! Price increased to $91.00 and then settled at $90.02, achieving gains of +6.24% over 24 hours – a signal of significant buying momentum.
✅ RSI is high at 78.52 → Clear entry into the overbought zone, indicating that the market is excited but caution is needed for a temporary correction.
✅ Strongly Positive MACD! Clear upward crossover with increasing momentum – supports continued rise in the short term.
✅ Price above its moving averages (MA5 and MA10) → Confirmation of the upward trend.
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🚀 Expected scenario:
A firm break above $91.00 could push the price towards the $95.00 area and then $100.00.
In case of a correction, the $85.00 - $86.00 area may be a good support zone and a chance to buy again.
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📊 Potential technical pattern:
🔺 "Bullish Flag" pattern?
The strong upward movement followed by horizontal consolidation and then an attempt to break the peak may indicate a continuation of the upward trend.
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🔍 Indicators support positive expectations:
High RSI → Market is strong, but a slight correction before continuing the rise cannot be ruled out.
Positive MACD crossover → Supports upcoming buying momentum.
Increase in trading volumes → Confirmation of new capital inflow.
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💬 My personal opinion:
LTC seems to be at a very important moment – strong momentum and trend indicators foster optimism, but the high RSI warns of a nearby correction. If it occurs, it may just be a buying opportunity before continuing the rise.
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✅ Final advice:
Stop loss below $86.00.
Follow general market and Bitcoin news, as they directly affect LTC movements.
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📢 Do you think Litecoin is about to return to 3-digit levels? Share your prediction!