I invite you to review the LTC chart on a four-hour interval. As we can see, the price, with a dynamic movement, broke the local upward trend line at the bottom.
When we unfold the trend based fib extension grid, we can see that the price has retreated to a strong support zone from $70 to $67, however, if this zone is broken, we may see further declines towards the support level of $60.
Looking the other way, we can similarly determine the resistance areas that the price must face. And here we see that the first resistance should appear at $75.65, and then we will move towards the resistance zone from $79 to $81, and then to the resistance at $84.58.
The CHOP index indicates that there is energy to make a larger move, the RSI indicator shows consolidation and a small rebound, while the STOCH index, despite a strong move, did not give a large price increase, which may limit larger increases.
When we unfold the trend based fib extension grid, we can see that the price has retreated to a strong support zone from $70 to $67, however, if this zone is broken, we may see further declines towards the support level of $60.
Looking the other way, we can similarly determine the resistance areas that the price must face. And here we see that the first resistance should appear at $75.65, and then we will move towards the resistance zone from $79 to $81, and then to the resistance at $84.58.
The CHOP index indicates that there is energy to make a larger move, the RSI indicator shows consolidation and a small rebound, while the STOCH index, despite a strong move, did not give a large price increase, which may limit larger increases.