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Nasdaq has reportedly submitted a review request for CoinShars XRP and LTC spot ETFs to the SEC. The LTC spot ETF is evaluated to have a high possibility of being launched as it is not involved in legal disputes with the SEC. The CFTC classifying Litecoin as a commodity is expected to act as a positive factor. #LTC&XRPETFsNext? #XRPETFApproval
Fibonacci Levels: Price bounced from the 0.618 Fibonacci level (~$95,688), indicating a key support area. Additional Fibonacci support at 0.706 ($95,458) and 0.79 ($95,238).
Chart Patterns: A downward channel was recently broken to the upside, suggesting bullish momentum. There was a strong recovery after testing lower Fibonacci support levels.
Observations Current Price: $0.5193 Recent High: $0.6239 Recent Low: $0.4958 Price is consolidating after a recent downward move from the $0.5440-$0.5500 zone .A resistance zone is evident around $0.5400 to $0.5500, with a previous rejection at $0.5440. The support zone lies at $0.4950, with price recently testing it and bouncing upward.
Bullish Scenario If the price breaks and holds above $0.5500, expect further upward momentum toward $0.58 (minor resistance) $0.62 (major resistance)
Bearish Scenario If the price fails to sustain above $0.5200 and breaks below $0.4950, potential downside targets are: $0.45 (psychological support) $0.40 (key structural support)
Trading Strategy Suggestions
Long Strategy (Bullish Breakout)Entry: Above $0.5500 Stop Loss: Below $0.5300 Targets: $0.5800, $0.6200 Short Strategy (Rejection Setup)Entry: Near $0.5400-$0.5500 resistance if the price gets rejected Stop Loss: Above $0.5550 Targets: $0.4950, $0.4500
Current Price: $2.3955 Recent High: $2.5030 Recent Low: $2.3113 A descending channel is evident, indicating a short-term bearish trend with multiple rejections at the channel resistance.
Bullish Scenario
If the breakout sustains above $2.40, potential upside targets are :$2.44 (minor resistance) $2.50 (key structural resistance)
Bearish Scenario
If the price fails to sustain above $2.40 and falls back within the descending channel, a retest of support near $2.35 and $2.31 (the recent low) is likely.