FxWirePro: LTCUSD faces strong support at 109, any break below targets $84
LTC/USD is continuing its weakness for fourth consecutive week. The pair has broken major trend line support at $127 and closed well below that level on weekly basis. The pair recovered till $140 in previous week and sta…
LTC/USD is continuing its weakness for fourth consecutive week. The pair has broken major trend line support at $127 and closed well below that level on weekly basis. The pair recovered till $140 in previous week and started to decline from that level. It is currently trading around $112.25. The slight jump in this pair has been using as selling opportunity by traders.
The near term solid resistance is around $131.78 (3- W EMA) and any break above will take the pair to next level till $140/$150 (20- W MA).
On the lower side, any break below $109 confirms minor weakness and a decline till $84/$70 is possible.
It is good to sell on rallies around $115-117 with SL around 128 for the TP of $100/$84.
