LTC Technical Analysis: Consolidation Is Ahead

Everything tends to end. As sad as it may sound, it is a fact. And another confirmation of this axiom shows us the LTC weekly chart. As we can see, the powerful growth trend that buyers have been preserving and shaping since March 2020 has been broken. Sellers managed to break the bottom trend line without much effort. In addition, the LTC price was updated at least in July 2021. So buyers were able to start rebounding the LTC price. However, all this takes place at minimal volumes and can end abruptly at any moment. https://www.tradingview.com/x/Ri5GkmIA/ For the past 2 weeks, buyers have been trying to take control of the $155 local liquidity zone. So far, this attempt does not look very sure and the probability of continuing the consolidation in the range of $108-$155 is quite high. Although this scenario is positive for the LTC market. In the case of this scenario, buyers will have a chance to start a real wave of growth. And consolidation in the range of $108-$155 will be regarded as a set of positions to bounce up. But, the loss of $108 in the weekly timeframe will mean that the LTC price will continue to fall with the next target of $78. Technical Analysis Of LTC On The Daily Timeframe https://www.tradingview.com/x/G8IIRoNk/ Analyzing the movement of the LTC price on the daily timeframe, we can see that market participants have formed a triangular consolidation. On 10 February, buyers failed to break this consolidation....