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FxWirePro: LTC/USD breaks major support at $89, decline till $75 likely

  • LTC/USD has shown a major decline after showing a minor jump till $103.85. The pair declined more than 50% from the temporary top $182.35. It is currently trading around $88.90.It has declined almost 79% from the all-time high of $370.  
     
  •  The near term solid resistance is around $111 (20 day MA) and any break above will take the pair to next level till $115 (34- day /$124 (55- day EMA).
     
  • On the lower side, any break below $84 confirms minor weakness and a decline till $75/$70 is possible.

It is good to sell on rallies around $95-98 with SL around $105 for the TP of $75/$70.

 

 

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