#LTC📈
Here is a technical analysis of Litecoin (LTC) on the daily frame:
General trend: Litecoin appears to be in an uptrend in the short term, as its value increased by 6.39% during Monday’s trading, to end at $151.88.
Support and resistance:
Support: The $145 level, from which prices have previously bounced.
Resistance: The $171 level is a major resistance level.
Technical indicators:
Relative Strength Index (RSI): The indicator shows levels above 70, indicating overbought conditions and a possible downward correction.
Moving Averages (MA): Prices are trading above the 50 and 100 moving averages, supporting the uptrend.
Momentum and volume: Trading volume is increasing, indicating support for the current bullish momentum.
Forecast: If the price continues to trade above the $145 support level, we may see a continuation of the uptrend towards the $171 resistance level. However, technical indicators should be monitored for any signs of a trend reversal.
Disclaimer: It is always advisable to conduct personal analysis and follow news and updates related to the currency before making any investment decisions.