LTC: W Pattern Formation Suggests Potential Bullish Reversal
💎 LTC is currently forming a W pattern within a supportive trendline and in a demand area. Historical price actions indicate that after the formation of the W pattern, LTCUSD has experienced significant upward bounces.
💎A breakout above the small resistance level at the top of the W pattern could signal a bullish move. Alternatively, the price may pull back to the demand levels, which could serve as favorable entry zones.
💎However, if the price breaks below both demand zones, it would be considered a bearish scenario for LTC
💎A breakout above the small resistance level at the top of the W pattern could signal a bullish move. Alternatively, the price may pull back to the demand levels, which could serve as favorable entry zones.
💎However, if the price breaks below both demand zones, it would be considered a bearish scenario for LTC
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