Home Daily Analysis Crypto Market sentiment LTCUSD: Traders to Wait to Get a Clue for the Next Move

LTCUSD: Traders to Wait to Get a Clue for the Next Move

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LTCUSD has been moving within a horizontal range. The price got stuck and it seems it does not know where to go. The pair had a strong bullish trend earlier on the daily chart. A level of horizontal support, which is a Fibonacci level as well, has been held by the daily candles. Thus, it might get bullish again. For that, a strong bullish daily candle is needed to be produced to attract the buyers again. Let us have a look at the daily LTCUSD chart.

The Daily Chart

The level of 112.40 is where the daily price had a bounce twice. This is a weekly support level as well. Thus, any daily bullish price action from this level would attract the buyers to go long again. By looking at the daily chart, it can be said there is no such daily movement as yet, so daily traders must wait for that. We might as well have a look at the H4 chart to find out what that has to offer for the traders.

The H4 Chart

Apart from the resistance level, the H4 chart makes a statement similar to the daily chart. The level of 125.80 is the level of resistance here. To create a bullish movement, the H4 chart is to make a breakout at the level of 125.80. There is no sign of a bullish movement as yet. To attract the buyers, this bullish movement is to take place on the H4 chart.

The Bottom Line

Overall bullish bias and the strong support level are two things that the buyers may get optimistic with. On the other hand, an H4 or a daily candle breakout at the support level may change the whole scenario. The sellers will come to play their game, and the key might be handed over to them. It goes without saying that both have to wait and be patient for the price to give them a clue to find out to whom the key would be handed over.

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