- LTC/USD has bounced off 20-DMA support in last week's trade.
- The pair has broken above 5-DMA which is currently immediate support at 210 levels.
- The pair has failed to close below 100-DMA, bias higher.
- Technical indicators support upside in the pair. RSI and Stochs are biased higher and we see +ve DMI dominance.
- Upside finds stiff resistance at major trendline at 250 levels. Violation there could see further upside.
- On the downside, we see strong support at 193 levels. Bullish invalidation only on decisive break below.
Support levels - 210 (5-DMA), 194 (20-DMA), 193 (100-DMA), 182 (Feb 23 low)
Resistance levels - 250 (Trendline), 252 (Feb 20 high), 270 (61.8% Fib retrace of 375 to 102 fall)
Recommendation: Good to go long on dips 220, SL: 190, TP: 250/ 270/ 300
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