FxWirePro: LTC/USD breaks major support at $109, dip till $85 likely
LTC/USD is declining sharply after hitting temporary top at $129.85. The pair has broken major triangle support at $109 and hits low of $102.70. It is currently trading around $106.44. It has declined more than $20 in pr…
LTC/USD is declining sharply after hitting temporary top at $129.85. The pair has broken major triangle support at $109 and hits low of $102.70. It is currently trading around $106.44. It has declined more than $20 in previous week. The pair has declined almost 72% from the all-time high of $370.
The near term solid resistance is around $120 (20 day MA) and any break above will take the pair to next level till $127 (34- day /$150 (daily Kijun-Sen).
On the lower side, any close below $109 confirms minor weakness and a decline till $84/$70 is possible.
It is good to sell on rallies around $112-115 with SL around 123 for the TP of $85.
