FxWirePro: LTC/USD trades well below $100, dip till $85 is likely
LTC/USD is declining sharply after hitting temporary top at $129.85. The pair has broken major triangle support at $109 and declined more than $15. It is currently trading around $105.97. It has declined more than $20 in…
LTC/USD is declining sharply after hitting temporary top at $129.85. The pair has broken major triangle support at $109 and declined more than $15. It is currently trading around $105.97. It has declined more than $20 in previous week. The pair has declined almost 72% from the all-time high of $370.
The near term solid resistance is around $118 (20 day MA) and any break above will take the pair to next level till $125 (34- day /$131 (55- day EMA).
On the lower side, any close below $93 confirms minor weakness and a decline till $84/$70 is possible.
It is good to sell on rallies around $105-$108 with SL around 4118 for the TP of $85/$70.
