Trading plan: LTCUSD (Litecoin)
Litecoin has made a deep correction on average volumes. The support zone of Litecoin can be called its last line for purchases: $ 131 - $ 132. Since the downward movement was on average, we are counting on Litecoin purchases today with a target of $ 142.
On the path of growth of Litecoin rate, there is a resistance level of $ 140. We believe that it is from this level that the Litecoin rate can go down.
Priority of the day: buy LTCUSD with a target of $ 142.
Litecoin does not yet demonstrate the presence of a large buyer, so the growth of its rate may be weak.
Projected scenarios:
1. Buy LTCUSD from $ 132 to $ 142.
2. If buyers will not be able to push the Litecoin rate up, then one will have to think about closing a long position and consider an alternative scenario.
An alternative scenario:
LTCUSD should make a correction to $ 136 - $ 139 before its fall. Therefore, for Litecoin sales it is necessary to wait the breakout of $ 132 level top down.
On the path of growth of Litecoin rate, there is a resistance level of $ 140. We believe that it is from this level that the Litecoin rate can go down.
Priority of the day: buy LTCUSD with a target of $ 142.
Litecoin does not yet demonstrate the presence of a large buyer, so the growth of its rate may be weak.
Projected scenarios:
1. Buy LTCUSD from $ 132 to $ 142.
2. If buyers will not be able to push the Litecoin rate up, then one will have to think about closing a long position and consider an alternative scenario.
An alternative scenario:
LTCUSD should make a correction to $ 136 - $ 139 before its fall. Therefore, for Litecoin sales it is necessary to wait the breakout of $ 132 level top down.
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