🔍 Market Overview
• Current price: $101.01 USD
• Daily volatility: Highest $104.24 USD, lowest $98.80 USD
• 24h trading volume: Approximately $1.12 million USD
• Market capitalization: Approximately $7.56 billion USD
• Total circulating supply: Approximately 75.4 million LTC
LTC has increased over 12% in the past week, reflecting a strong recovery after the price drop in early May.
📈 Technical Analysis
• Nearest resistance: $105 USD
• Strong support: $98 USD
• RSI (14): Currently at neutral levels, indicating the market is not overbought or oversold.
• MACD: The MACD line crosses above the signal line, buy signal.
• ADX: Increasing, indicating the current trend is strengthening.
The daily chart shows LTC in an uptrend, with a 'Bullish Continuation' pattern signaling potential further price increases.
📰 Featured News
• ETF proposal for Litecoin: The SEC has delayed its decision on the ETF proposal for Litecoin by Canary Capital, requesting further public input on regulatory compliance.
• Network activity growth: Litecoin shows a stable increase in daily transactions — over 500,000 transactions daily, nearly double from a year ago.
📊 Trading Strategy
Scenario 1 – Open Long Position
• Reason for entry: Price breaks through resistance level $105 with strong trading volume, confirming the uptrend.
• Entry zone: $101 – $103
• Stop loss (SL): $98 (Below the nearest support)
• Take profit (TP): $110 – $115
• Probability of success: 65% (Based on technical signals and strong inflow of money)
Scenario 2 – Open Short Position
• Reason for entry: Price unable to maintain above $105 and shows signs of a bearish reversal.
• Entry zone: $104 – $105
• Stop loss (SL): $106 (Above the nearest resistance)
• Take profit (TP): $98 – $95
• Probability of success: 55% (Based on the potential for correction after a strong uptrend)
Note: The market is in an excited state; tight risk management is needed and closely monitor technical signals.
🔗 LTC Trading
Trade now on Binance: Trade LTC now