The asset is currently in a consolidation zone, working off the sell-off from October 10.
The main resistance zone, which could potentially reverse the trend if reached, broken, and held above, lies in the 0.1351 – 0.1388 range.
The token is trading in a downtrend, which is confirmed by RSI values below 50 on higher timeframes and the Ichimoku indicator on the weekly chart.
The main support zone is 0.0883 – 0.0957. If this zone is broken and price consolidates below it, we may expect a gradual retest of the all-time low, towards levels near 0.0302.
Based on key resistance levels for the asset, the main and strongest zone is between 270 – 284. Only after breaking through and consolidating above this range can it be considered a trend reversal, signaling that LTC may move toward a retest of its global all-time high.
All other resistance levels reflect imbalance zones from previous sell-offs, which — if broken — would only lead to a short-term and impulsive price increase.
On higher timeframes, RSI values remain below 50, indicating a stable downward trend.
With the support of #BTC, the asset may reach the following levels sequentially: 53.28 41.86 which can serve as take-profit targets for those holding short positions.
The asset is trading in a downtrend, which is confirmed by RSI values below 50 on both higher and mid-timeframes. It has already retested the LONG resistance, with a wick breakout on October 10.
Key Levels:
Resistance: 0.5670 – 0.5964 A breakout and consolidation above this range could lead to a price increase toward 0.8094.
Support: 0.4000 – 0.4259 If this level is broken and confirmed below, the token may fall to 0.1840 — a retest of the local wick low.
#bnb The asset has tested the 61.8 Fibonacci resistance at 1,182 but failed to consolidate above the levels that would allow it to continue rising and retest the ATH.
A correction is expected, at least down to the current support level at 1,064 per token.
If it breaks below and consolidates under the 1,044 support level, it can be assumed that the token will move to test the wick low around 863.
At the moment, the token is trading in the support zone of the Fibonacci retracement of the upward trend, namely the golden pocket 61.8–65% (0.03093 – 0.03160) — IMB LONG 1w TF.
If the daily candle closes above this channel range, we can expect a retest of resistance in the cycle at 0.03250. This price ceiling marks the beginning of the confirmation channel for the global uptrend. If it breaks above 0.03311, the asset could potentially reach its ATH and retest it, followed by new highs.
In a negative scenario, the price may roll back to the cycle support zone at 0.02875, and if broken, continue downward to the IMB SHORT 1w TF at 0.02638.
Let’s look at the 1m TF. The current candle created a false breakout of the resistance level (imb) of the downward correction trend at the Fibonacci 61.8–65% zone. Then it returned back, slightly below the Ichimoku baseline.
Continuation of the uptrend is possible only if the price reaches 0.28357 (Ichimoku baseline) and consolidates above the 0.28772 resistance level of the global cycle.
Bearish scenario: Pay attention to the condition of the baseline and main Ichimoku. If the main one is broken, it will be a strong short signal, which could push the price down to 0.14338 (the cycle low and the start of the uptrend).