FxWirePro: LTC/USD trades flat, good to sell on rallies
LTC/USD is seen trading flat on Thursday. The pair is trading in a narrow range between $3.83 and $4.12 levels (BTCE) for the past eight trading session. It is currently trading around $3.93 at the time of writing. Ichim…
LTC/USD is seen trading flat on Thursday. The pair is trading in a narrow range between $3.83 and $4.12 levels (BTCE) for the past eight trading session. It is currently trading around $3.93 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen $3.979
Kijun-Sen $4.17
Trend reversal - $4.10
Long-term trend remains to be bullish. The short-term trend seems to be bearish. In a daily chart, the pair is trading well below Tenkan-Sen and Kijun-Sen. So a decline till $3.68/$3.31 is possible.
Major resistance is seen at $3.98 (7 days EMA) and any break above will take the pair till $4.0485 (21 days MA)/$4.165 (55 days EMA). Major support can be noticed at $3.83 (Jul 26th low) and break below will drag the pair till $3.68 (200 days MA)/$3.31 (200 day MA).
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