LTC/USDT – 1H – BUY

The combination Litecoin/Tether (LTC/USDT) breaks through the ascending trendline upwards

A continuation of the uptrend upwards to the next resistance level at 57.71 is expected.

Caution: A possible counter-trend in the direction of the support level at 54.84 is also possible.
Consider stop-loss settings accordingly.

And also a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. which could be a positive chart signal. The currency pair is likely to rise.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Current target is 56.91704 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance line at 57.71 is also possible.
Consider stop-loss settings accordingly.

And also a ‘Inverted Hammer’ chart pattern is detected. The candles show ‘Inverted Hammer’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Inverted Hammer’ going up is 65% (Bull Market).

56.03 – 55.64 – 55.99 – 54.84 – 54.9 – 55.04 —
55.470000000 – 56.240000000 —
58.714988199299 – 67.827178084271 —
– —
56.03 – 1777662000

Trading Signals: CRYPTO – LTC – LTC/USDT – USDT – Inverted Hammer – – –