Brothers, Litecoin is currently at a critical position of $110, right at the lower support of the daily symmetrical triangle (also the Fibonacci 0.236 retracement level). Over the past 24 hours, it has dropped by 2.25%, with a trading volume of 820 million, and liquidity is relatively sufficient, with enough market activity. Now, Brother Chen will discuss the latest market analysis and trading ideas with everyone.

This point is quite delicate - if it can steadily stay above $110 today, there may be a chance to rebound to $120; if it closes below, it might be necessary to pay attention to the risk of breaking down, with around $100 possibly being the next support level to watch.

Several key positions to keep an eye on: $120-$122 is the short-term resistance zone, pressed down by the 4-hour MA30 moving average, and a breakout will require corresponding volume; $115 is a small key point in the minds of bulls and bears, if it stabilizes, it can relieve some selling pressure; $100-$103 is a relatively strong support, with the 200-day moving average and many long stop losses there. Additionally, watch out for a small risk of liquidation, as falling below $108 may trigger forced liquidation of long positions exceeding 28 million; conversely, breaking above $122 will increase the pressure on short positions.

From an operational perspective, it might be worth considering going long around $110.1-$109.6, targeting first at $111.8, and then looking at $113.4 after a breakout. Of course, keep the risk management in mind #ada .