Today we will talk about the LTC coin and all possible scenarios for its movement in the near future.
I remind you that the last global review was made on 10/25/2023. The link.
Let’s get to the review. First of all, we see that the price is in a triangle and is currently below the support line. In a closed channel on 06/05/2023, I published a possible scenario and marked with yellow squares where the price will be. As you can see, the price went straight into the square, and it is extremely important for the price to stay above the support line in the triangle in order to continue the growth.
If the price breaks through the support line, then you can forget about growth in the near future, since, most likely, there will be a fall into the global accumulation zone, as it was from June 2022 to November 2022. there was a strong push up, which led to an increase from $50 per coin to $104, that is, more than 100%.
What if the price…
What if the price falls below $73? Then we can consider it as an exit from the triangle and an open path to the global accumulation zone. Here I recommend saving up and buying as many coins as possible, as the price is unlikely to drop any further.
What if the price reverses inside the triangle? We can then trade the pattern until the upper end of the triangle reaches $95 per coin. Only after a complete breakdown of the upper line of the triangle, we can talk about a full-fledged growth and continuation of the bullish trend. Let me remind you that the $102 mark is a very important level and played the role of a global support line, preventing the price from falling.
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