๐ฅ $LTC Bearish Consolidation but I'd go Long for a tactical bounce on 1-hour timeframe
Recent 1h candles show declining volume during the consolidation near 69-70 USDT, suggesting selling exhaustion. The large volume spike during the drop to 68.30 indicates capitulation, often followed by a relief bounce.
Capital Flow: Contract net outflow is significantly negative across all timeframes (-4.59M USDT for 1H, -22.34M for 24H), indicating strong selling pressure in derivatives. However, the magnitude decreases in shorter periods (-252K for 5m, +737K for 15m), hinting at potential slowing outflows. Spot net outflow is also negative but less severe, suggesting derivatives are driving the decline.
Entry long $LTC : Enter near the key support zone of 68.30-68.50 USDT, avoid chasing if price breaks below 68.30 with high volume.
Stop-Loss: Set at 67.30 (Support level),
Target Price $LTC : Aim for 69.69 (resistance level) or 70.70 (next resistance). If momentum strengthens, consider holding towards 71.39 USDT (next resistance zone)
Support me just Click below to Trade ๐ Cheers.
