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FxWirePro: LTC/USD consolidates in narrow range, good to sell on rallies

  • LTC/USD is showing minor weakness after hitting high of $129.80. The pair hits low of $115.70 and is currently trading around $121. It has shown a jump of $20 in previous week. The pair has declined almost 70% from the all-time high of $370.  
     
  •  The near term solid resistance is around $131.80 (34- day EMA) and any break above will take the pair to next level till $140/$150 (daily Kijun-Sen).
     
  • 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 $123-$125 with SL around 132 for the TP of $109.

 

 

 

 

 

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