Technical analysis by Phenor about Symbol LTC: Buy recommendation (5/4/2024)

The concept of advance breakout and breakdown is highly effective in technical analysis, especially with indicators like the Relative Strength Index. An advance breakout occurs when the RSI indicator surpasses its previous peak or breaches a trendline while the price has not yet done so. This serves as an advanced or early signal, suggesting that the price will likely follow the direction indicated by the RSI in the upcoming sessions. So... is it? :)Despite what I just wrote, I would be cautious about entering the trade here/now (unless you're ready to hold a little). Personally, I'm looking for an entry around the $75 price tag.