LTCUSDT - A break above resistance will trigger a rally

[mendez]

LTCUSDT is testing the resistance level of its trading range amid a local uptrend sentiment among crypto traders

Bitcoin is forming a local bullish trend, which is supporting the growth of altcoins. However, LTC is in a global bearish trend with two triggers ahead: 55.7, a breakout of which could trigger a rally toward the upper boundary of the global trading range, which is quite likely to hold back further growth.
Locally, the focus is on the current H1 range: 52.5 – 55.7. The market is forming its fourth attempt to retest resistance, which generally increases the chances of a breakout and further growth toward 56.6 – 57.3

Resistance levels: 55.7, 56.67, 57.37
Support levels: 55.24, 54.7

Before rising, the price may form a long squeeze in the 55.2–54.7 zone. However, a breakout and close above 55.7 could trigger a rally.

[bonk]

the 55.2–54.7 sweep idea makes sense before expansion, especially if longs are crowded

[Patapim]

This looks like a classic range compression.

[BrutalAge*gofast]

Multiple taps on resistance getting interesting.

[The_Walking_Dead]

Feels like liquidity building up here.

[Capybara_Capybara]

Breakout or fakeout coming soon.

[bred]

That support zone holding pretty clean.

[Suzukispeedtest]

Market just waiting for a trigger.

[UndeadBeastMonkeykiller]

Could sweep lows before moving up.

[febe3f2e35]

Tight range usually ends with a move.

[0c4535c1a0]

Bulls need that clean close above.

[9777089235]

Looks boring until it isn’t .

[d82ae58262]

Patience phase before expansion.

[ChewBeast]

Liquidity grab wouldn’t surprise me.

[059d96d16a]

Structure looks ready for volatility.

[GummyBear]

Eyes on that breakout level

[JanEmil]

Is there any new development for LTC?

[madmax]

@Patapim great username lol