LTCUSD approaching resistance, potential drop!
LTCUSD is approaching our first resistance at 62 (horizontal pullback resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 53.64 (horizontal swing low support, 78.6% Fibonacci retracement).
RSI (55) is also seeing a bearish exit and we might see a corresponding drop in price should it react off this level. Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
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RSI (55) is also seeing a bearish exit and we might see a corresponding drop in price should it react off this level. Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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