LTC/USD trades in the red, scope for further upside only above 4.00
LTC/USD has once again failed to break above 4.00 levels and currently trades at 3.93 levels at press time (BTC-e). Ichimoku analysis of daily chart: Tenkan Sen: 3.87 Kijun Sen: 3.78 Trend reversal: 3.90 (90 EMA) “LTC/US…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
LTC/USD has once again failed to break above 4.00 levels and currently trades at 3.93 levels at press time (BTC-e).
Ichimoku analysis of daily chart:
Tenkan Sen: 3.87
Kijun Sen: 3.78
Trend reversal: 3.90 (90 EMA)
“LTC/USD is showing a slight dip after hitting 4.03 levels on September 04 and is trading close to 90 EMA. The pair must break above 4.00 levels for further upside”, FxWirePro said in a statement.
The pair will run into resistance at 4.14 levels (100-day MA) and a break above would see it testing 4.53 levels (July 02 high)/4.70 (113% retracement of 4.53 and 3.22).
On the flipside, 3.90 (90 EMA) is likely to act like a strong support for the pair and a break below would target 3.80 (200-day MA)/3.51 (161.8% retracement of 3.71 and 4.03).
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