<

LTO Network (LTO) Price Explodes Strongly, What’s the Next Target?

The price of LTO Network (LTO) has broken above a long-term resistance area, showing decisive bullish signals. It is expected to continue rising in the near future.

Breakout of Long-Term Resistance

The price of LTO Network (LTO) broke above the long-term resistance area at $0.14 last week. The breakout occurred with a large bullish candle and high trading volume, confirming the validity of the breakout.

At the time of the breakout, the price had been trading below the $0.14 area for approximately 679 days. Therefore, breaking above it is a very significant development, marking the end of the long-term downtrend and the beginning of a new long-term uptrend.

The weekly RSI (Relative Strength Index) has surged into the overbought zone and is sloping up, indicating that the bulls have complete control of the market.

The nearest resistance area is found at $0.3. Breaking above this area will help the price rise towards the next significant resistance area at $0.48, which is 102.09% higher than the current price level.

lto-breakout
LTO/USDT weekly chart. Source: TradingView

Short-Term Outlook

The 4-hour chart shows that the price of LTO has broken above a small horizontal resistance area at $0.225 and confirmed it as support today (green arrow).

The bounce created a bullish candle with the same length as the previous bearish candle, signaling that the bulls are buying strongly on minor dips. meritking

The 4-hour RSI is above 50 and trending upwards, supporting the possibility of further upside.

Therefore, the price of LTO may rise to the $0.3 resistance area in the coming days.

LTO/USDT 4-hourly chart. Source: TradingView

Conclusion

The most likely prospect suggests that the price of LTO will continue to rise in the near future. The nearest target is found at $0.3 and higher towards $0.48.

Disclaimer: Please note that this article is for informational purposes only and should not be taken as investment advice. As an investor, it is important to do your own research before making any decisions. We are not responsible for any investment decisions you make based on this information. Not Financial Advice.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

Follow us on Reddit

You might also like