The following key points can be observed from this 4-hour K-line chart of LTC/USDT:
1. Current Price:
The current price is 94.58 USDT, the highest price in 24 hours is 99.00 and the lowest price is 93.66.
2. Moving average trend:
MA(7) (yellow line) begins to cross below MA(25) (pink line), indicating that there is a certain amount of pullback pressure in the short term.
MA(99) (purple line) is around 89.25, showing an overall upward trend, indicating that the medium- and long-term trend is still bullish.
3. Volume (VOL):
Trading volume has shrunk recently, indicating that market sentiment is relatively cautious and capital is not willing to enter the market.
4. Key support and resistance:
Support level: The recent support level is near MA(99), which is the 89-90 USDT area.
Resistance level: The current upper resistance is at 99 USDT, and further resistance is near the previous high of 106.36.
5. Predict market conditions:
In the short term, there may be a further correction to test the MA (99) support level, and the price may fluctuate between 89-95.
If the price can effectively hold above MA (99) and start to rise again with large volume, it is expected to challenge the resistance levels of 99 and 106.36 again.
If it falls below 89, there may be a larger decline, with the target area at 75-80 USDT.
6. Operational suggestions:
Aggressive investors: Try to buy low around 90 USDT and set the stop loss below 89 USDT.
Conservative investors: Wait and see, and wait for the price to break through 99 and stabilize before entering the market.
The future market situation needs to be combined with the overall market trend and news dynamics, and closely monitor changes in trading volume to confirm whether the trend will continue or reverse.
