LTO Confirms Move with 3 Big Candles
LTO Network is a hybrid blockchain platform for decentralized workflows and business process automatization. Thanks to a solution based on live contracts, companies can enter into and carry out transactions, exchange information with each other, organize supply chains, delegate data processing and more, simultaneously and without relying on trust.
LTO Network, formerly known as LegalThings One, was established in May 2014 as a subsidiary of Firm24. For several years the main goal of the project has been to implement simple legal transactions on the blockchain. Conceptually, it is based on the interaction between private and public blockchains.
LTO Network provides the following kinds of assistance: the facilitation and control of the entire transaction process, the exchange of information between parties, the creation of business supply chains and the secure transfer of data to third parties.
By removing the need to depend on the human factor in business transactions, LTO Network is expected to allow companies to focus on improving the efficiency, transparency and security of their business.
Source – CMC
LTO has a REAL GOOD Chance
Unlike a lot of other coins out there today making new ATHs, LTO has been lagging behind the scenes. The nature of their business model does not scream flashy NFTs or METAverse. Instead, they rely on Live Contracts and private Blockchains – indeed important but not a Hot Topic.
That lag has allowed some of the capital to get shifted to LTO while things like MANA and SAND cool off for a little bit. The initial break at $0.376 has the potential for a retest but the last three Daily Candles have been very strong – so that may not happen.
When trends are really strong – they tend to only have shallow pullbacks. One way to look for an area of Support is through the use of Fibonacci. Here we have anchored the recent Low before the upward advance and the current top of the advance. A Pullback to the 236 or 382 would be considered shallow.
Even a pullback to the 382 gives us a 63% initial retest of the high – which is an outstanding opportunity. If and when the ATH breaks – we have plenty of levels in Price Discovery that would result in really phenomenal trades.
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