Litecoin (LTC): A golden opportunity at the accumulation zone – Is the historical target calling?
Litecoin (LTC) is currently approaching one of the most important technical areas in its price history. Looking at the long-term chart, we see LTC moving within a massive narrowing wedge structure, signaling a huge momentum breakout that is being compressed. The decisive checkpoint for this cycle is the "Strategic Accumulation Zone" within the price range of $50 – $60.
Why is this an opportunity to pay attention to? The thing is, this price range is not only a psychological support level but also a convergence point of the long-term uptrend line starting from 2018. The fact that the price remains stable here indicates that selling pressure has exhausted and large funds are quietly absorbing positions. If this structure is maintained, a breakout from the diagonal resistance line will open the journey to conquer the resistance levels above.
Looking at the long-term vision, when LTC overcomes the technical barriers at the $145 and $219 zones, the target towards $500, even $1,000 is entirely based on historical wave measurements. This is a phase that requires patience rather than panic in response to short-term fluctuations. Focus on supporting the trading plan at this base price range, as the largest movements often begin from the quietest accumulation zones.
Source: Crypto Patel
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