💡 Quick technical analysis for LTC/USDT:
✅ Strong rebound from $80.99 to $93.70!
The price recorded a clear bottom and then surged strongly, confirming the presence of significant buying momentum during the previous sessions.
✅ RSI indicator at 20.51 – in the oversold zone!
This is an important signal for a potential nearby rebound, as the price tends to bounce back at this level.
✅ The MACD is negative but stable
The lines are converging and indicate the possibility of a positive crossover coming that will enhance the upward movement.
✅ Trading volumes have declined after the peak
This may indicate the end of the current correction, with traders anticipating a new breakout.
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🚀 Expected scenario:
If LTC manages to stay above the nearby support level at $88.00, we may see a rebound towards $91.50 and then test the strong resistance at $93.70 again.
If the mentioned support breaks, $85.00 - $83.00 could form a very strong rebound area.
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📊 Additional technical analysis – Are we witnessing the formation of a "bull flag" pattern?
The price formed a rapid vertical rise and then started a sideways correction, resembling a bull flag pattern – and if it breaks upward, the price could easily head towards $96+!
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🚨 Supporting signals from the indicators:
RSI is very low → rebound is very likely.
MACD is negative but consolidating → watch for a positive crossover.
Trading volumes are weak → possibility of accumulation before a major move.
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🎯 Upcoming movement expectations:
Gradual rise towards $91.50 - $93.70
If we break $93.70, we open the way towards $96 - $98
Main support at $85.00 should be monitored closely.
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💬 My personal opinion:
LTC is in a correction phase after a strong rise, but the very low RSI, along with a potential technical pattern, supports a positive scenario. This is a good opportunity to pay attention and prepare for a strong movement.
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✅ Final advice:
Do not enter randomly!
And use a Stop Loss below $85.00 to reduce risks.
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📢 Do you think LTC is about to explode again? Or will the correction continue? Share your expectations!