FenzoFx—Litecoin is testing the supply zone, highlighted in the 1-hour chart. The primary trend is bullish, as the price is above the 50-period simple moving average.
However, the price action techniques show that sellers exist in the resistance area, which expands from \$105.0 to \$107.0. Therefore, going long is risky at this price, since it is expensive.
That said, if the immediate resistance at \$107.0 holds, LTC/USD will likely dip toward \$100.0, aligning with yesterday's low.
However, the price action techniques show that sellers exist in the resistance area, which expands from \$105.0 to \$107.0. Therefore, going long is risky at this price, since it is expensive.
That said, if the immediate resistance at \$107.0 holds, LTC/USD will likely dip toward \$100.0, aligning with yesterday's low.
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