FxWirePro: LTC/USD breaks 200- day MA, jump till 175 likely
LTC/USD has broken major resistance 150 (200- day MA) after a 70% decline from temporary top around $370 made on Dec 19th 2017 high. The pair has formed major double bottom around 106 and shown a good jump of more than 3…
LTC/USD has broken major resistance 150 (200- day MA) after a 70% decline from temporary top around $370 made on Dec 19th 2017 high. The pair has formed major double bottom around 106 and shown a good jump of more than 30% till 142.62. It is currently trading around 151.82.
The near term solid resistance is around 150 (200- day MA) and any close above will take the pair to next level till 175/195 (Mar 10th high).
On the lower side, any break below 105 confirms bearish continuation and a decline till 89/73 is possible.
It is good to buy on dips around 135-40 with SL around 125 for the TP of 175/195.
