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Author: Admin | 2025-04-28
The crypto market to identify important resistance and support levels. If the LTC price moves above any of these averages, it is generally seen as a bullish sign for Litecoin. Conversely, a drop below an important moving average is usually a sign of weakness in the LTC market.Traders also like to use the RSI and Fibonacci retracement level indicators to try and ascertain the future direction of the LTC price.How to read Litecoin charts and predict price movements?Most traders use candlestick charts, as they provide more information than a simple line chart. Traders can view candlesticks that represent the price action of Litecoin with different granularity – for example, you could choose a 5-minute candlestick chart for extremely short-term price action or choose a weekly candlestick chart to identify long-terms trends. 1-hour, 4-hour and 1-day candlestick charts are among the most popular.Let’s use a 1-hour candlestick chart as an example of how this type of price chart gives us information about opening and closing prices. The chart is divided into “candles” that give us information about Litecoin’s price action in 1-hour chunks. Each candlestick will display LTC’s opening price, closing price, as well as the highest and lowest prices that Litecoin reached within the 1-hour period.It’s also important to pay attention to the color of the candle – a green candle means that the closing price was higher than the opening price, while a red candle tells us the opposite. Some charts will use hollow and filled candlestick bodies instead
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