LTCUSD approaching resistance, potential drop!
LTCUSD is approaching our first resistance at 52.17 (horizontal pullback resistance, 23.6% Fibonacci retracement, 100% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 49.16 (horizontal swing low support, 100%, 61.8% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (34) is also facing bearish pressure and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) is also facing bearish pressure and we might see a corresponding drop in price.
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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