LTC

Trade setup: Trends are improving and price is trading in < a Channel Up pattern. Swing traders: can enter near Channel support trendline (~$74) and exit near Channel resistance trendline (~$85). Stop Loss (SL) level at $67 (just below the prior swing low). Trend traders: price needs to break above $75 (200-day moving average) to confirm Uptrend, with upside potential to $95 thereafter. (set a price alert).

Pattern: Price is trading in a Channel Up pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout.

Trend: Uptrend on Short- and Medium-Term basis and Neutral on Long-Term basis.

Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).

Support and Resistance: Nearest Support Zone is $70 (previous resistance), then $60. The nearest Resistance Zone is $95, then $115.