LTCUSD; 90 and 110
The big 110 support level has given way and market sees lower highs and lows within a shorter-term bearchannel.
110 should now act as the better resistance on eventual pop-ups. If a better ceiling is found, more downside can be expected. The 90 to 88 area is decent support however and may hold for now; downside risk extends to 72 once below.
For now the 110 magnet could be tested upon holding 90/88 support. 110 will define where to go next; a break above improves the short-term picture but it will take a higher high (>130) to give some benefit to bulls.
Thus, watch 90/88 and 110 for the next move.
110 should now act as the better resistance on eventual pop-ups. If a better ceiling is found, more downside can be expected. The 90 to 88 area is decent support however and may hold for now; downside risk extends to 72 once below.
For now the 110 magnet could be tested upon holding 90/88 support. 110 will define where to go next; a break above improves the short-term picture but it will take a higher high (>130) to give some benefit to bulls.
Thus, watch 90/88 and 110 for the next move.
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