LTC is gaining momentum a head of the halving in 62 days

LTC MARKET_MINDS BULLISH

Market & Ticker: Bitcoin - LTC/USDT 

 

Date: 31/05/2023 
 
Horizon / Timing:  Mid-term / 1 to 3 Months 
 
Litecoin (LTC) developed a large recovery after a year progressing within an ascending channel. This configuration shows a clear upside trend in progress with a potential toward the upper part of the graphical element at 145.00 

 

Scenario: 

 

As long as 78.00 remains valid (Daily close) we expected a further recovery from 87.00/92.00 entry level towards 105.00/115.00 intermediate resistance on the short-term before 145.00 on the mid-term and  

 

 

Technical Key Elements: 

 

- Key moving average and RSI are flattening calling for range configuration before upside breakout 
- Elliot wave is calling for a further rise to complete C wave 
- Key Fibonacci resistance is defined at 115 and 145 
- Key Fibonacci support is defined at 78 

 
Trade Idea conclusion:  Buy Conviction: 

 

:médaille:
:médaille:
:médaille:
(High) 
  • Target 2: 145,00 (55%)
  •  
  • Target 1: 115.00 (25%)
  •  
  • Buy: add in dip area 87/92
  •  
  • Stop: 78 (-15%)

  

 

Chart: DailyBasis (Candle Stick) - Logarithmic  

Indicators: Exponential Moving Average (21/34/89) - RSI (21) 

 

 

  

 

 

rayn.finance logo

Automata FRANCE SAS

240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act.