FxWirePro: LTC/USD trades near 2018 low, good to sell on rallies
LTC/USD has shown a minor decline and is trading near 2018 low after showing a minor jump till $84.50. The pair declined more than 50% from the temporary top $182.35. It is currently trading around $73.66.It has declined…
LTC/USD has shown a minor decline and is trading near 2018 low after showing a minor jump till $84.50. The pair declined more than 50% from the temporary top $182.35. It is currently trading around $73.66.It has declined almost 79% from the all-time high of $370.
The near term solid resistance is around $93 (20 day MA) and any break above will take the pair to next level till $102 (34- day EMA) /$112.26 (55- day EMA).
On the lower side, any break below $73 confirms minor weakness and a decline till $70/$60 is possible.
It is good to sell on rallies around $80-82 with SL around $105 for the TP of $75/$70.
