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5.7 Market Overview: $LTC Strong Comeback

Key Focus: Tomorrow morning at 2:30 AM, the Federal Reserve interest rate meeting. It is estimated that there will be no rate cut in May, but the probability of a 25% rate cut in June and July has significantly increased. Be cautious of sharp fluctuations at midnight.

Yesterday, the SEC announced the postponement of the decision on the LTC spot ETF application, causing LTC to drop back to 81; however, it rebounded strongly above 90 during the night, with a 24-hour increase of 11.34%. It has been consolidating in the 83-90 range for about half a month, and finally, a strong bullish candle pulled LTC back above 90. Currently, it has stabilized above 90 on the 4-hour chart. Since the three major institutions applied for the ETF, it has shown the strength of established coins. Continue holding the spot position.

The 4-hour chart has stabilized above 90, with the next resistance at 95.02. If it breaks here, look for 98; support below is at 90.09 and 87.8. The trading strategy is clear: short positions can be set up at 95.02, add positions at 97.24, with a stop-loss at 99, and targets at 92.78 and 90.09. For long positions, wait for a pullback to 90.09 without breaking, with a stop-loss at 87.8, targeting 92.72 and 95; alternatively, enter long positions on a pullback if it breaks down and then rebounds.

For spot entry, wait for a pullback to 79.73 to enter in batches, add positions if it drops 10%, hold the spot and wait for the arrival of a bullish market in July or for the approval of the spot ETF.

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