Teddy

On the 8H TF chart for $LPT, we see clear local support and resistance zones. The price fluctuates between these levels, forming an Elliott Wave pattern, hinting at a short-term uptrend continuation.

◼️Local Support Zone: Range: $ 20.40 - $ 18.90 ➖ This zone serves as a key buying area where the price finds support and bounces back. Strong buying interest here helps stabilize the price.

◼️Market Structure: #LPT is in the Elliott Wave correction phase. Breaking the resistance at $ 26.78 - $ 30.00, supported by higher volumes, could push the price higher. Otherwise, a pullback to $ 20.40 - $ 18.90 suggests temporary consolidation.

◼️Elliott Wave A-B-C: After the fifth wave, a corrective A-B-C phase typically follows.

⚪Scenario 1 (Low Volume): Wave C might test the $ 20.40 - $ 18.90 support, indicating weak selling.

🔴Scenario 2 (High Volume): Increased selling could push the price below this support, testing lower levels like $ 16.00 - $ 14.00. Not NFA. ➖ DYOR 🧠💡 #Crypto #Trading