LTC rise and blocked above 60(up to 60.85) last Saturday (March 9), due to the rise of LTC in the first half of last week and the bull profit sell-off pressure, LTC ended to a daily K-level pullback in the past two days. Yesterday (Monday) LTC closes at the mid-negative K line, falling down the MA5. In the morning today (Tuesday) morning, LTC continues to pull back, breaking down the horizontal support 55 and MA10 ,and dipping below the lower level support 52.4.
Looking at the LTC daily K line (including the K line today), the three-days decline can only be seen as a correction of the sharp rise after last Tuesday (March and May). This kind of daily K-line level pull-back has not yet destroyed the overall upward trend of LTC daily K-line cycle. LTC has maintained a clear upward trend since its strong rise on February 8. Although the pullback two weeks ago once fell below the MA20, but the price quickly returned to MA20, and the low support level is rising from 41 to 43.3, 45.75. The LTC daily K-line is shaping a rise trend at present. For today, the low support line is located in the 49-50 interval. If LTC completes the daily K-line level callback, while maintaining the overall upward trend, the LTC daily K-line pull- back may lower to the Ma-20 average, but should not fall below 50.
At present, the LTC daily K-line level pull-back is still going on. If any investors hold short-trading orders, our suggestion is to close them around MA-20 average. At the same time, keeping eyes on the completion of the daily K line rising trend, if the low support line is not broken, investors can try to open an long-trading orders from below MA20 to 50. But if long-trading orders fell to 49, which means the daily K line support line is destroyed, investors should strictly stop the loss and exit. The low support is 52.4, and the lower support interval is 50-49.
Looking at the LTC daily K line (including the K line today), the three-days decline can only be seen as a correction of the sharp rise after last Tuesday (March and May). This kind of daily K-line level pull-back has not yet destroyed the overall upward trend of LTC daily K-line cycle. LTC has maintained a clear upward trend since its strong rise on February 8. Although the pullback two weeks ago once fell below the MA20, but the price quickly returned to MA20, and the low support level is rising from 41 to 43.3, 45.75. The LTC daily K-line is shaping a rise trend at present. For today, the low support line is located in the 49-50 interval. If LTC completes the daily K-line level callback, while maintaining the overall upward trend, the LTC daily K-line pull- back may lower to the Ma-20 average, but should not fall below 50.
At present, the LTC daily K-line level pull-back is still going on. If any investors hold short-trading orders, our suggestion is to close them around MA-20 average. At the same time, keeping eyes on the completion of the daily K line rising trend, if the low support line is not broken, investors can try to open an long-trading orders from below MA20 to 50. But if long-trading orders fell to 49, which means the daily K line support line is destroyed, investors should strictly stop the loss and exit. The low support is 52.4, and the lower support interval is 50-49.