🔹Current technical situation: $LTC
The overall trend for LTCUSDT appears to be bearish based on the SMA20 moving averages in both the 5-minute and 15-minute time frames. The RSI indicator suggests that the asset is not in the oversold territory, leaving room for further declines. MACD in both time frames is negative, confirming the bearish trend. Potential support areas are around the proposed targets (113.24, 110.30, 107.36 USDT). A strong resistance area is near the SMA20 moving average in the 15-minute time frame (117.78 USDT) and the proposed stop loss (120.60 USDT).
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🔹Short-term forecast (1-4 hours):
The price of LTCUSDT is likely to continue to decline in the coming hours, with the possibility of testing the first support area around 113.24 USDT. The most likely scenario is a continuation of the bearish trend, especially if the price fails to breach the resistance level of 117.78 USDT. Price action at these levels should be monitored to confirm the trend.
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🔹Proposed trading levels (potential trade):
Potential selling opportunity:
- 📥 Entry: 117.6619 USDT
- 🎯 Targets:
- First target: 113.2496 USDT
- Second target: 110.3080 USDT
- Third target: 107.3665 USDT
- 🛑 Stop loss: 120.6034 USDT
- Risk/Reward ratio: 1:1.5
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🔹Proposed action plan:
Enter a sell trade at the level of 117.66 USDT. If the price moves in the expected direction, the stop loss can be moved to the entry level to protect profits. If the price reaches the first target, the trade size can be reduced, and part of the profits secured. Trading volume should be monitored to confirm the strength of the trend. Alternative scenario: If the resistance level of 117.78 USDT is breached, it may be better to cancel the trade or wait for another selling opportunity at higher levels.
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🔹Warnings and alerts:
The signal strength is weak (32%), indicating a degree of uncertainty. Attention should be paid to any news or economic events that may affect the price of LTCUSDT. Beginner traders and small wallet holders should manage risk carefully and reduce the trade size. Ensure that the risk/reward ratio is appropriate before entering any trade. Trading volume should also be monitored to confirm the strength of the downward trend.
