LTC/USDT chart technical analysis (1D)

🔷 1. Trend and market structure
🔺 Main channels:
The chart is moving in an ascending channel (orange lines), the lower and upper limits of which have been respected since mid-2022.

The current price (around 78.3 USDT) is in the middle range of the channel, with a downward trend in recent weeks.

🔁 Market phase:
The price is in consolidation in a broader uptrend.

The last upward swing did not break through the previous peak (~135 USDT), which may indicate weakening momentum.

🔷 2. Key horizontal levels (support/resistance)
✅ Resistance levels (green lines):
83.46 USDT – the nearest resistance, currently being tested from below.

95.48 USDT – strong resistance from March-April 2024.

105.19 USDT – a level tested many times in the past.

110.00 USDT – a psychological level.

115.83 USDT – a local high from December 2023.

🛑 Support levels (red lines):
78.30 USDT – currently tested support level.

70.98 USDT – a key defensive level for bulls.

52.03 USDT – strong historical support.

39.78 USDT – the last line of defense, consistent with the lows from 2022.

📐 Dynamic support (orange line):
The lower boundary of the ascending channel – currently falls around 65 USDT and increases over time.

🔷 3. Technical indicators
📊 CHOP (Choppiness Index)
Oscillates near the lower values ​​→ the market is starting to leave the consolidation phase.

Potential directional movement soon, most likely downward (due to momentum).

📉 RSI (Relative Strength Index)
RSI below 50, currently around 40–45 → supply advantage.

Not oversold yet, but momentum is downward.

🔄 Stochastic
Well below 20, i.e. in the oversold zone.

Potential for a short-term bounce, but it can also go lower with a stronger sell-off wave.

🔷 4. Technical scenarios
🟢 Growth scenario (long):
Condition: Defending the level of 78.3 USDT and a quick return above 83.46.

Targets:

TP1: 95.48

TP2: 105.19

TP3: 115.83 (upper border of the channel)

SL: below 70.98 USDT

🔴 Bearish scenario (short):
Condition: Break 78.3 and retest as resistance.

Targets:

TP1: 70.98

TP2: 65 (lower channel line)

TP3: 52.03 (large accumulation zone)

SL: return above 83.46

🔷 5. Swing strategy proposal
Long
Entry 78.30–79.00
SL < 70.50
TP1 95.50 TP2 105.00 TP3 115.00
Short
Entry < 77.50 (ret.)
SL > 83.50
TP1 71.00 TP2 65.00 TP3 52.00

🔷 6. Additional comments
It is worth observing the price reaction at 70.98 USDT - this could be a capitulation level or a strong rebound.

The formation on the daily chart resembles a head and shoulders (H&S) - a warning signal for bulls.