Litecoin (LTC) Evening Trading Strategy Analysis

First, looking at the 4-hour chart, the RSI indicator has dropped to 33, but the MACD has formed a death cross, and the green bars are getting longer, indicating that the strength of the bears is actually increasing.

Next, looking at the Bollinger Bands, the price has directly broken below the lower band at $119.5. According to the pattern, there might be a short-term rebound for correction, but the middle band at $124 has become an insurmountable barrier.

On-chain data has a little twist, a whale address 1LQ9W bought 38,000 LTC for $4.5 million at the price of $118.3, which seems like they are defending the price.

In terms of trading, Brother Chen suggests going short, entering around $115.8 - $116.2, with an initial target of $114.1. If it breaks below, we can continue to look at $112.2. Make sure to set a stop-loss at #ltc .