Are we on the verge of a massive breakout on #LTCUSDT , or is a reversal looming? The stakes are high let’s dive into the analysis and find out what's next.
💎#LTCUSDT is showing promising signs of a potential bullish continuation from the key support level at $68.40. The recent price action, which saw a break above the descending resistance, has set the stage for a move upward. However, for this bullish momentum to hold, the price needs to remain steady at the support level, potentially setting the scene for a breakout above the internal resistance.
💎But we're not in full breakout mode just yet. For a confirmed move higher, a decisive break above the internal resistance at $75.85 is crucial. This needs to be backed by strong engulfing candles and sustained upward momentum. Until these signals appear, it's wise to stay cautious and avoid jumping into trades prematurely.
💎However, there’s always the risk of momentum fading. If #LTCUSDT fails to break above $75.85 and begins to weaken, sellers could step in. The critical level to watch is the bullish order block at $57.64, which has proven resilient in the past. A bounce from here would keep the bullish outlook alive, but a break below $57.64 could invalidate the bullish setup, leading to a sharp decline.
The next move will be pivotal, Paradisers. Whether we witness a breakout or face a reversal, maintaining a strategic approach with disciplined risk management will give us the edge. Patience and a well-executed plan will separate the winners from the rest.
