LTC/USD is continuing its weakness for second consecutive week and pair declined more than 5% for the day. The pair hits low of 130 and is currently trading around 136.25. The slight jump in this pair has been using as s…
LTC/USD is continuing its weakness for second consecutive week and pair declined more than 5% for the day. The pair hits low of 130 and is currently trading around 136.25. The slight jump in this pair has been using as selling opportunity by traders. The pair has formed major double bottom around 109 and any major weakness only below that level.
The near term solid resistance is around 161 (200- day MA) and any convincing close above will take the pair to next level till 175/183 (100- day MA)/195 (Mar 10th high)/250.
On the lower side, any break below 138 (61.8% fib) confirms minor weakness and a decline till 130/120/105 is possible.
It is good to sell on rallies around 148-150 with SL around 161 for the TP of 120/109
