From the 1-hour candlestick chart, the current price of LTC is around 135.38, showing some pullback signals.
Moving Average System:
The short-term MA(7) and MA(30) moving averages are close to crossing, with the current price located between MA(7) and MA(30), indicating that the market is experiencing a consolidation phase.
The long-term MA(100) is on an upward trend, providing some support. If the price retraces to near MA(100), it may find support.
Resistance and Support Levels:
Current key resistance level: 141.25 (yesterday's high), breaking this level may lead to further upward movement.
First support level (Zhi Ying level): 134.00 (near the current price, short-term support area).
Second support level (Zhi Ying level): 130.00, if the price declines to this point, it may find stronger support.
Stop Loss Level: Recommended to set at 138.00, if the price breaks this point, a stop loss can be executed.
Trend and Market Sentiment:
The current price of LTC has risen significantly compared to the low point of 92.12 in December, but there has been a slight pullback in the short term, which may face a short-term adjustment.
From the market trend, it may enter an adjustment phase, with a risk of pullback.
Operation Suggestion: Bearish
Opening Position: Recommended to open a short position between 135.50-136.00, waiting for the price to retrace downwards.
Target Levels:
First Target Level: 130.00
Second Target Level: 125.00
Stop Loss Level: 138.00
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