FxWirePro: LTCUSD upside capped by rend line resistance, good ot sell on rallies
LTC/USD has declined almost more than 15% after a minor jump above trend line resistance. It haas jumped till 183.59 and hits low of 156.94. The pair has formed major double bottom around 109 and any major weakness only …
LTC/USD has declined almost more than 15% after a minor jump above trend line resistance. It haas jumped till 183.59 and hits low of 156.94. The pair has formed major double bottom around 109 and any major weakness only below that level.It is currently trading around 159.13.
The near term solid resistance is around 163 (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 142.50 (50- day MA) confirms minor weakness and a decline till 130/120/105 is possible.
It is good to sell on rallies around 175 with SL around 195 for the TP of 142/130.
