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Additionally, a descending trendline has been capping price action, acting as dynamic resistance. A break above this trendline, currently near $128.30 (0.236 Fib), would confirm a shift from the correction into a new bullish phase. The daily Relative Strength Index (RSI) is gradually recovering from oversold conditions, indicating a potential rise in buying momentum. However, for sustained upside, LTC needs to reclaim $128, which would clear the way toward a retest of its prior highs.
If bearish pressure persists and LTC fails to maintain above $96.81 (0.618 Fib), a further drop to retest $82.95 remains possible. That level would serve as the last stronghold for bulls before a deeper retracement occurs. The volume profile also suggests a lack of significant buying pressure yet, meaning a breakout would require an increase in volume to validate the move.
LTC Price Prediction
The 1-hour chart provides a more granular view of LTC’s recent movements. A five-wave impulse structure appears to be forming after LTC found a local bottom near $82.95. Wave (i) completed at $109, and LTC is currently in wave (ii) consolidation, which is expected to provide the base for the next upward expansion.
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