FxWirePro: LTC/USD struggles to break above $100, good to sell on rallies
LTC/USD has shown a minor jump after hitting low of $89.25. The pair declined more than 50% from the temporary top $182.35. It is currently trading around $95.75. It has declined more than $20 in previous week. It has de…
LTC/USD has shown a minor jump after hitting low of $89.25. The pair declined more than 50% from the temporary top $182.35. It is currently trading around $95.75. It has declined more than $20 in previous week. It has declined almost 79% from the all-time high of $370.
The near term solid resistance is around $111 (20 day MA) and any break above will take the pair to next level till $115 (34- day /$124 (55- day EMA).
On the lower side, any break below $84 confirms minor weakness and a decline till $75/$70 is possible.
It is good to sell on rallies around $103-105 with SL around $112 for the TP of $85/$70.
