👋 Interested in how you can make an $1,000 per day with a trusted heavily regulated ⭐⭐⭐⭐⭐ 5-star international broker? Sign up for a free consultation.
Trading Signal: Emerging Channel Down on LTCUSD
An Emerging Channel Down pattern has been detected on LTCUSD, indicating a potential bullish movement in the price of Litecoin against the US Dollar. The pattern is still emerging and has not yet broken through support, but based on historical data, the price is expected to move up over the next few hours.
Technical Indicators:
- The pattern was identified at a price of 115.64
- The expected target price is 122.6229
- Other technical indicators such as moving averages, RSI, and MACD also support the bullish outlook
Correlated Assets:
LTCUSD’s price movement may be correlated with other cryptocurrencies such as Bitcoin (BTCUSD) and Ethereum (ETHUSD), as well as with precious metals like Gold (XAUUSD).
Economic Calendar Events:
Traders should keep an eye on upcoming economic calendar events that could impact the price of LTCUSD, such as Federal Reserve announcements, US GDP data releases, and cryptocurrency regulatory news.
Overall, based on the Emerging Channel Down pattern and supporting technical indicators, traders may consider going long on LTCUSD with a target price of 122.6229 in the short term.
⚠ If you wish to learn how to invest in the right stocks or trade successfully online, you can look into our free daily news about stock market news, crypto market news, commodities news, forex news, and financial markets daily technical analysis and trading signals.
