LTC/USD turned red and plunged to 5.00 levels before recovering to 5.23 levels at the time of writing. It had hit a high of 5.65 levels earlier in the day. Ichimoku analysis of daily chart shows: Tenkan-Sen level: 5.12 K…
LTC/USD turned red and plunged to 5.00 levels before recovering to 5.23 levels at the time of writing. It had hit a high of 5.65 levels earlier in the day.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 5.12
Kijun-Sen level: 4.76
Trend reversal level - (90 day EMA) – 4.05
Long-term trend remains bullish and the pair is likely to face resistance at 5.69 levels (161.8% retracement of 5.35 and 4.83). Any break above this level will see the pair reaching 6.06 levels (1.618% retracement of 5.65 and 5).
On the downside, support is seen at 5.15 levels (23.6% retracement of 3.60 and 5.65) and any violation will drag the pair to 4.83 levels (June 14 low).
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