TradeCityPro | LPT : Testing Key Levels with Bullish Momentum

9 Dis

👋 Welcome to TradeCityPro!
In this analysis, I’m going to review the LPT coin, one of the projects in AI and Media. The analysis will cover both weekly and daily timeframes.

📅 Weekly Timeframe: Engaging with a Key Resistance
In the weekly timeframe, after breaking 9.415 and reaching the resistance at 22.569, the price entered a range between these two levels. Currently, it has reached the resistance at 22.569 for the third time. Significant buying volume has entered the market, and considering Bitcoin’s bullish momentum and the correlation between altcoins and Bitcoin, the probability of breaking this level is high.

📈 If this level is broken, the next resistances will be 31.516 and 63.738. Breaking 63.738 could likely lead to a new ATH.

✨ In the case of a correction, the most critical factor is the 41.57 level on the RSI, which should not be lost. As long as the RSI remains above this level, the market momentum is seen as bullish.

🔽 The key price level for a potential correction is 9.415. If this support is broken, the next levels are 5.451 and 3.787.



📅 Daily Timeframe: Decreasing Bullish Momentum
On the daily timeframe, after breaking the ascending trendline near the bottom of the range, the price managed to move toward the top of the box without any significant correction. However, with the RSI returning below 70, the bullish momentum has decreased.

📉 In the event of a correction, the first support level in this timeframe is 15.485. If this level is broken, the next support is the bottom of the box at 9.967.

🔼 If the price breaks through 23.423, the next resistance will be 31.003, which the price could reach upon a successful breakout.

📝 Final Thoughts

This analysis reflects our opinions and is not financial advice.

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