Family, today Yang Ge is here to chat with everyone about the short-term trend of LTC (Litecoin). The recent market data and technical indicators are quite interesting, let's analyze them together.
First, looking at the technical indicators, the daily RSI is currently in a neutral to slightly high zone, around the range of 55 - 60, and the MACD green bars have just started to appear. This is like being a bit out of breath while running, indicating that the upward momentum has temporarily weakened. However, the daily chart shows the RSI at 73.47, which is like being pumped up, indicating a strong bullish momentum, but it's close to overbought levels, feeling a bit “over the top”, so we need to be cautious.
Next, let's talk about the key price area, $126 - $127.5, which is the core battleground for bulls and bears right now. If we can break through effectively (staying above the 15-minute candlestick), then in the short term, it might charge towards the target of $130.
On-chain data also has some highlights, as whales have recently net inflowed over 400,000 LTC in a single day, which is like the big players quietly accumulating. However, the inflow to exchanges has only increased moderately, indicating limited short-term selling pressure. Everyone's sentiment is cautiously optimistic, like carefully watching the show.
Yang Ge gives the operating suggestion: buy on a pullback to around 122.00 - 123, with the first target at 127.50, and then push towards the vicinity of 130. However, the market has risks, so investments should be cautious. We all need to take it easy and not be impulsive! #LTC