Technical analysis by Babsphoenix about Symbol LTC: Buy recommendation (6/4/2023)

LTCUSDT: PREPARING FOR A FLIGHT Litecoin has been stuck in a range since January 2023 while maintaining the higher lows trendline that started in October 2022 and now has a cluster of support to sit on while preparing for a bull run. This bullish prospect is only confirmed when a weekly candle closes above the resistance cluster of 1W MA 100/1W MA 200/horizontal resistance. We can look for a long term buy opportunity after this breach. We can look for a short term buy opportunity if the price succumbs to resistance cluster and retest the cluster of supports(1W MA 50/Diagonal support/horizontal support) below