FxWirePro: LTC/USD trades weak, good to sell on rallies
LTC/USD is declining sharply after hitting temporary top at $184.70 level. The pair declined more than 50% and hits low of $89.14 level. It is currently trading around $95.58. It has declined more than $20 in previous we…
LTC/USD is declining sharply after hitting temporary top at $184.70 level. The pair declined more than 50% and hits low of $89.14 level. It is currently trading around $95.58. It has declined more than $20 in previous week. The pair is trading weak for second consecutive week. It has declined almost 79% from the all-time high of $370.
The near term solid resistance is around $116 (20 day MA) and any break above will take the pair to next level till $122 (34- day /$129 (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 $105-$108 with SL around 4118 for the TP of $85/$70.
