FxWirePro: LTC/USD trades weak, good to sell on rallies

• LTC/USD has shown a major decline of almost 29% after showing a minor jump till $103.85. The pair declined more than 60% from the temporary top $182.35. It is currently trading around $81.15.It has declined almost 79% from the all-time high of $370.  
   
•  The near term solid resistance is around $102 (20 day MA) and any break above will take the pair to next level till $109 (34- day /$117.65 (55- day EMA).
   
• On the lower side, any break below $70 confirms minor weakness and a decline till $60/$50 is possible.

It is good to sell on rallies around $85-87 with SL around $101 for the TP of $60/$50.