- LTC/USD finds strong support at 100-DMA at 188.58, we see weakness on break below.
- The pair has retraced dip below 100-DMA, edged higher from session lows at 182.10.
- Technical studies are bearish. RSI and Stochs are biased lower.
- Price action has failed to breakout of daily cloud has slipped below major EMAs.
- Break below 100-DMA will see test of 200-DMA at 122.61. Bearish invalidation only on breakout above daily cloud.
Support levels - 188.57 (100-DMA), 182.45 (20-DMA), 163.85 (61.8% Fib retrace of 33.33 to 375 rally), 122.61 (200-DMA)
Resistance levels - 195.11 (50-DMA), 210.47 (5-DMA), 244.48 (38.2% Fib)
Recommendation: Good to go short on break below 100-DMA, SL: 220, TP: 165/ 140
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