Hello traders,
Looking at the daily chart for Litecoin, we see that Litecoin has entered the demand zone that I drew in the chart. Historically, this region ($60-$70 range) was traded extensively, and it is expected for Litecoin to find support.
Key support:
1: $70 (38.2% fib level)
2: $61 (50% fib level)
3: $52 (61.8% fib level) if this level is breached, Litecoin is in a huge trouble.
Potential scenario:
1: $70 -> $80 SL: $69 (triggered)
2: $61 -> $70 SL: $60
3: $52 -> $61 SL: $50
Happy trading!!
Looking at the daily chart for Litecoin, we see that Litecoin has entered the demand zone that I drew in the chart. Historically, this region ($60-$70 range) was traded extensively, and it is expected for Litecoin to find support.
Key support:
1: $70 (38.2% fib level)
2: $61 (50% fib level)
3: $52 (61.8% fib level) if this level is breached, Litecoin is in a huge trouble.
Potential scenario:
1: $70 -> $80 SL: $69 (triggered)
2: $61 -> $70 SL: $60
3: $52 -> $61 SL: $50
Happy trading!!