Dear friends, today Long Ge is specifically discussing LTC, filled with practical insights, focusing on price trends and key signals, so you can have a clearer understanding.
Currently, LTC is fluctuating in the range of $116-120. Although it has fallen below the recent oscillation zone of $120-126, it has reached the cost support area for long-term holders at $115-110. This area is not ordinary; historically, every time it reaches here, the buying pressure is particularly strong, and several times it has rebounded from this point, showing reliable support strength.
Key resistance levels must be closely watched. Today, the first barrier is $118; if it stabilizes, it can push up to $120.4 (the lower limit of the demand area), and if it breaks through, we will be looking at $123, which is a dividing line between bulls and bears. If it surpasses this barrier, the market may become even more robust.
The bullish signals from the technical analysis are quite clear as well. The daily line is still within the ascending parallel channel; if it breaks through and stabilizes at $118, we can see $122-128 in the short term, and a mid-term target of $133-145, which offers considerable space.
The indicators are also supportive. OBV (On-Balance Volume) has risen to a yearly high, indicating that buying momentum is continuing. The weekly super trend has turned bullish, and the weekly RSI is between 55-60, which hasn’t reached overbought yet, indicating further upward space. The Bollinger Bands are expanding, and the price has previously broken above the upper band at $124.5; if it returns within the channel, the bullish signal will be even more solid.
Long Ge's operational strategy today suggests considering going long if there’s a pullback to around $114.50-115.62, with an initial target at $118.35, and if that breaks, then looking at $121.33. But I must remind you, the market is full of uncertainties; always keep the risks in mind, manage your positions well, and avoid blind trading.
