LTC - 4h. Buyers are preparing for the test of $175

3 Feb 2021

The correction of the previous wave of growth in the LTC market lasted for almost a month. After setting a local high of $185.83, buyers retreated. As a result of the correction, a triangle was formed in which the LTC price was traded until February 2.

In our previous idea, we showed potential LTC buying areas.

Thus, testing the range of $126-130, the price of LTC began a new wave of growth and went beyond the consolidation triangle.

Buyers managed to take control of the $145-150 range. If sellers fail to lower the price below this range today, we will expect continued growth to $171-175

An alternative scenario will begin if an erroneous breakdown of the $145-150 range is formed in the daily timeframe. In this case, a new clear channel of LTC growth will be formed and we will expect a correction to $132-133
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We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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