#LTC
The price is moving within a descending channel on the hourly timeframe. It has reached the lower boundary and is heading towards a breakout, with a retest of the upper boundary expected.
The Relative Strength Index (RSI) is showing a downward trend, approaching the lower boundary, and an upward bounce is anticipated.
There is a key support zone in green at 75.00, and the price has bounced from this level several times and is expected to bounce again.
The indicator is showing a trend towards consolidation above the 100-period moving average, which we are approaching, supporting the upward move.
Entry Price: 78.30
First Target: 79.40
Second Target: 81.45
Third Target: 83.86
Stop Loss: Below the green support zone.
Remember this simple thing: Money management.
For any questions, please leave a comment.
Thank you.
