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#GateSquareAprilPostingChallenge Long liquidation indicates downside pressure, as key support levels have failed and liquidity was taken below. Momentum remains weak in the short term, increasing the risk of further downside movement.
Price Action
In the past 24 hours, $LTC traded between 53.95 (high) and 52.66 (low), with the current price around 52.70. This shows a slight decline and moderate volatility, aligning with the post’s observation of weak momentum and downside risk.
Trading Strategy
Entry Price (EP): 51.80 - 52.80
Take Profit (TP): 50.50 / 48.80
Stop Loss (SL): 54.20
If price fails to reclaim 52.80, further downside is likely, with targets at 50.50, 49.50, and 48.80. The strategy suggests caution, as momentum remains weak and key support has been lost.