$LTC is currently seeing activity with a long liquidation at $126.18 worth $3.5439K.
Here's a detailed analysis to guide your next steps.
Market Overview.
1. Recent Liquidation. Long positions liquidated suggest bearish sentiment in the short term.
2. Current Price Behavior. The price of $126.18 indicates support being tested or broken.
Buy Zone (Accumulation Area).
Strong Support Zone. $120–$124 This zone is a good place to start buying if the price stabilizes and shows strength (e.g., higher lows or consolidation).
Aggressive Entry. $115–$118 If the market turns more bearish you can consider buying closer to $115 which is a stronger support.
Target Levels (Profit Goals)
1. Short-Term Target. $130–$132 If LTC shows upward momentum these levels act as immediate resistance.
2. Mid-Term Target. $135–$140 Stronger resistance levels based on recent price action.
3. Bullish Target. $145–$150 If the market sentiment flips to bullish LTC may test these levels.
Stop Loss Levels (Risk Management).
1. Conservative Stop Loss. Below $119 Protects against a deeper downtrend.
2. Aggressive Stop Loss. Below $112 For those willing to risk a wider stop loss in case of market volatility.
What’s Next.
1. Market Conditions.
Monitor Bitcoin and overall market trends since they heavily influence LTC.
Keep an eye on the Federal Reserve updates crypto regulations or macroeconomic news.
2. Indicators to Watch.
RSI: Look for oversold levels (<30) for a potential bounce.
MACD. Check for bullish crossovers to confirm an uptrend.
Volume. Increasing volume during upward price movements indicates strength.
3. Caution.
Avoid entering during high volatility without proper confirmation.
Use only a percentage of your portfolio to limit risk.