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Litecoin Price Retest Amid Potential Reversal
The current Litecoin price is below the Point of Control (POC). The recent rebound appears weak and has not yet formed a peak, although there is a possibility it might be reached here. Overall, it's reasonable to anticipate a retest of the breakout level near $92.
There are two potential scenarios following this retest:
1. The price could pull back and jump above $83 (the current monthly 20SMA at around 85), possibly leading to a rise to 93-95.
2. Alternatively, it might lose the monthly 20SMA and continue declining toward the next significant support level at around 81.
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AI Analysis
The current analysis of Litecoin (LTC) indicates that its price is trading below the Point of Control (POC), a crucial volume-based level that often acts as support or resistance. The recent upward mo...
AI Recommendation
Traders should be cautious and closely observe the retest of the $92 level for signs of strength or weakness. A decisive move above $83 and the 20SMA could signal a bullish continuation towards $93-95...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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