Litcoin increased by 9.66% in an impressive breakout, but severely rejected in a major high -time friend resistance. This step now sets a potential rand-bound structure son support and resistance.
Summary
- Litcoin increased by about 10% before the $ 130 resistance level rose.
- The price is now ranked, the point of control has significant support and still a rapid structure.
- Holding support may spark another breakout; Losing it can cause extended consolidation.
After rejecting Rali, Litcoin (LTC) has hit a technical roof near $ 130, an area that was earlier active as a resistance for high time. Despite rejection, Prime Action Structurally Batt-supported support remains below. The next salary session will be important in determining what LTC consolidates or pushed towards another breakout on time.
Major technical points
- Major resistance: The $ 130 high deadline level cap value continues for action.
- Support Area: The point of control and fibonacie confluenus region provides structural banking.
- Market Structure: Steps with high and high climb.
The recent steps of Litcoin have attracted fresh attention to the property after climbing about 10% in a strong impulsive leg. This Rali tested a $ 130 resistance level, a history significant value point that has been narrated as a barrier in previous cycles. The rejection here was not unclear, and the price has now entered a potental range as the market digests recent profit.
The formation of this honor is prepared between $ 130 resistance and points, located near a Fibonacci Conference area. This support field represents a major structural levels. If it holds it, it can act as a foundation for a higher low formation to break the resistance and the other time.
From the volume profile perspective, there are obvious evidence of increasing volume, which is usually a healthy signature consolidation. As long as the point of control is released on any retract, the structure receives rain and suggests accumulation rather than distribution.
The structure of the market keeps print high and high climbing, strengthening the trend rapidly. Current pullbacks can be seen as a healthy improvement within the ongoing trend, if it confirms the support after the major volume level. If Prime can retrieve $ 130 swing, the front leg of the momium
The values are also high, it is also acting as a soft barrier here. The previous interaction with this level has created back rejection to the point of control. This time, a clean hold of the points of control will move the bold back to the bull and like the results in high deadline resistance.
Overall, the price action remains technically rapidly, and the current pullback provides an essential test of market strength. Traders should look closely for confirmation signs around the point of control.
What is expected in the upcoming price action
If the LiteCoin controls the control point, expect a fresh push towards $ 130 and powerful. Failure to hold can be more extended. The market structure remains rapidly for now.
