LTC/USDT 4HInterval Resistance and Support
I invite you to review the LTC chart on the four-hour interval. As we can see, the price has moved out of the local downtrend channel, which we used to determine the blue lines.
Now let's move on to marking the price support points and we see that we first have a support zone from $92 to $90, but if the price goes lower, we have another support at $88.30, then at $86.35 and another support at $83.80 $.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that we are currently below the first resistance zone from $94 to $97, when we manage to break it we have the second resistance zone from $99 to $101. Next we have a strong resistance at $103.82 and the next one at $107.57.
The CHOP index indicates that most of the energy has been used, the MACD indicates that the uptrend is maintained, while the RSI indicates that we are moving around the middle of the range, which makes it difficult to indicate the direction of the price.
Now let's move on to marking the price support points and we see that we first have a support zone from $92 to $90, but if the price goes lower, we have another support at $88.30, then at $86.35 and another support at $83.80 $.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that we are currently below the first resistance zone from $94 to $97, when we manage to break it we have the second resistance zone from $99 to $101. Next we have a strong resistance at $103.82 and the next one at $107.57.
The CHOP index indicates that most of the energy has been used, the MACD indicates that the uptrend is maintained, while the RSI indicates that we are moving around the middle of the range, which makes it difficult to indicate the direction of the price.