Litecoin ($LTC ) on the edge! Is this a golden buying opportunity? 🚀
The price of Litecoin (LTC) has decreased by -4.87% in the last 24 hours, reaching $78.65, approaching its lowest point today at $77.41. Does this drop present a strong entry opportunity, or is there more decline awaiting us?
Current technical analysis for LTC/USDT:
Lowest price in 24 hours: $77.41
RSI (6): at 27.03 → very close to the oversold region (20), which enhances the likelihood of a rebound.
Bollinger Bands: the price has broken the lower limit, supporting the possibility of a short-term rebound.
MACD: the negative has started to slow down, which could be a signal of an approaching positive crossover.
Short-term trading strategy (Scalp / Swing):
Entry area: between $77.5 – $78.7
First target (TP1): $81.5
Second target (TP2): $83.9
Stop loss (SL): break below $76.5 and close under it.
The opportunity is attractive from a technical perspective due to the oversold condition and the price being close to strong support, but caution is necessary as the overall trend is still bearish.
Risk reminder:
Do not enter with your entire capital, use strict capital management.
Monitor BTC's performance as it heavily influences LTC's movement.
Gradual entry is preferred to minimize losses in case of momentary reversals.
Do you think Litecoin is capable of returning to levels of $80 or more, or is the market still heading for the abyss? Share your opinion now 👇