LITECOIN ANALYSIS🔥🎯
Today Litecoin (LTC) is trading at $128, showing strength after a recent rally that pushed the price above the key resistance of $123. From a technical standpoint, LTC has broken a multi-year consolidation pattern, with 20-day and 50-day moving averages acting as support at $117$ and $112, respectively. The RSI near 70 indicates positive momentum but is approaching overbought levels, suggesting caution for immediate new entries.
From a fundamental perspective, LTC benefits from increasing adoption in digital payments and the possible approval of an ETF for the token, which is attracting institutional interest. The network continues to show solid activity with over 340 million recent transactions.
Recommended trading levels:
Entry: 124-126$ (after potential pullback)
Take Profit: 140-145$ (next resistance zone)
Stop Loss: 115$ (dynamic support near EMA 20)
A cautious trading approach involves waiting for a retracement towards 124-126$ to confirm the support hold and take advantage of the potential upside to 145$ in the event of a sustained breakout.
Please always set a stop loss and avoid trading with excessively high leverage.
