#LTC/USDT Breaks the Side Pattern — Has the Crawl Towards $130 Started?
Quick Technical Overview: Litecoin (LTC) has shown remarkable performance over the last 24 hours, rising by +9.42% to reach $119.31, breaking through the technical resistance around the $117 level.
Last Candle Type: The last candle on the 12-hour timeframe is a strong long green candle (Bullish Marubozu), with almost no upper or lower shadow, indicating full control by buyers and the likelihood of continued upward momentum in the upcoming sessions.
Technical Indicators:
RSI: at 83.04 = Entering the overbought zone, but buying strength still dominates.
MACD: Recent positive crossover and entering the green zone = Beginning of an upward wave.
Bollinger Bands: The price has breached the upper limit indicating a potential bullish breakout, but caution is required for short-term correction.
Profit Taking Strategy: "Ride the Breakout Wave with Risk Management"
This strategy relies on entering after confirming the breakout of resistance with specific targets and a clear stop loss.
Entry Points:
Ideal Entry Zone: Between $117.50 – $119.30
Potential Targets:
First Target: $124.00
Second Target: $129.50
Third Target (short-term): $134.00
Proposed Stop Loss:
Just below the minor support at $113.80