FxWirePro: LTC/USD trades well above 200- day MA, good to buy on dips
LTC/USD has broken major resistance 150 (200- day MA) and jumped till 164.55 after a 70% decline from temporary top around $370 made on Dec 19th 2017 high. The pair has formed major double bottom around 106 and shown a g…
LTC/USD has broken major resistance 150 (200- day MA) and jumped till 164.55 after a 70% decline from temporary top around $370 made on Dec 19th 2017 high. The pair has formed major double bottom around 106 and shown a good jump of more than 40% and is currently trading around 163.50.
The near term solid resistance is around 168 (100- day MA) and any close above will take the pair to next level till 175/195 (Mar 10th high)/250.
On the lower side, any break below 145 confirms minor weakness and a decline till 130/120/105 is possible.
It is good to buy on dips around 159-61 with SL around 146 for the TP of 195/250.
