LTC/USDT: Technical Analysis
Time Frame: 4-hour
Current Price: $67.11
Trend: Bullish
Indicators:
1. RSI (14): 58.42 (Bullish)
2. MACD (12, 26): 0.44 (Bullish)
3. Moving Averages:
- 50-period MA: $64.91
- 200-period MA: $59.45
4. Bollinger Bands:
- Upper band: $70.15
- Lower band: $60.07
Support and Resistance Levels:
1. Support:
- S1: $65.49
- S2: $63.95
- S3: $62.41
2. Resistance:
- R1: $69.13
- R2: $71.15
- R3: $73.17
Candlestick Patterns:
1. Bullish Engulfing
2. Hammer
Chart Patterns:
1. Ascending Triangle (Bullish)
2. Inverse Head and Shoulders (Bullish)
Analysis:
The 4-hour chart shows a bullish trend, with LTC/USDT forming an ascending triangle. The RSI is bullish, while the MACD indicates bullish momentum.
Trading Strategy:
1. Long: Above $69.13, targeting $71.15 and $73.17.
2. Short: Below $65.49, targeting $63.95 and $62.41.
Risk Management:
1. Stop-loss: 5-10% below entry price.
2. Position size: 2-5% of total portfolio.
Market Sentiment:
1. Fear & Greed Index: 63 (Greed)
2. Sentiment Analysis: 70% Bullish, 30% Bearish
Not Financial Advise