Litecoin has been trading within a local range for several days, and I expect a range expansion in the near future.
Price has already swept the daily MCL, making the MCH the next logical target, followed by a move toward the first problematic area — the order block at 58–61, where resistance is likely to appear.
Additionally, a weekly FVG is formed in the 61–65 zone, acting as a strong price magnet while also serving as resistance.
If the upper boundary of the range fails to break, the most likely scenario would be a retest of the order block around 51, followed by a move toward the first target at MCH.
Price has already swept the daily MCL, making the MCH the next logical target, followed by a move toward the first problematic area — the order block at 58–61, where resistance is likely to appear.
Additionally, a weekly FVG is formed in the 61–65 zone, acting as a strong price magnet while also serving as resistance.
If the upper boundary of the range fails to break, the most likely scenario would be a retest of the order block around 51, followed by a move toward the first target at MCH.
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