$LTC

As of December 18, 2024, Litecoin (LTC) is trading at approximately $116.96 against Tether (USDT) on Binance, reflecting a 4.03% decline over the past 24 hours. 

Technical Indicators:

• Moving Averages (MAs):

• Short-term MAs (e.g., 5, 10, 20 periods) are indicating a ‘Buy’ signal, suggesting upward momentum.

• Longer-term MAs (e.g., 50, 100, 200 periods) also show ‘Buy’ signals, reinforcing the bullish trend. 

• Relative Strength Index (RSI):

• The 14-period RSI is at 61.648, which is below the overbought threshold of 70, indicating that the asset is not currently overbought. 

• Moving Average Convergence Divergence (MACD):

• The MACD line is above the signal line, suggesting bullish momentum. 

Support and Resistance Levels:

• Support:

• Immediate support is around $107 to $109, which has previously acted as a strong support zone.

• Resistance:

• The next significant resistance level is near $120.

Trade Considerations:

• Entry Point:

• Consider entering a long position if the price breaks above the $120 resistance level with increased volume, confirming bullish momentum.

• Stop-Loss:

• Set a stop-loss below the $107 support level to mitigate potential downside risk.

• Take Profit:

• Target the next resistance levels at $130 and $140 for potential profit-taking.

Risk Management:

• Ensure proper position sizing to manage risk effectively.

• Stay updated with market news and developments that could impact Litecoin’s price.

olerance before making any trading decisions. #Write2Earn!