Hey Guys,
The whole market is bullish at the moment but we are still bearish with our positions as we see the market lacks enough volume to sustain at the news highs.
LTC looks for a strong downtrend after reaching its support at 57.4 and now a reversal is confirmed as RSI and MACD also indicating bearish movement.
It has a lot of resistance to fight in order to reach $68 while it lacks enough support while falling back.
It should hold at 47-49 level before its next rally down to as low as $32 again.
We'll keep this post updated as we see any other confirmations or changes.
Happy Trading.
The whole market is bullish at the moment but we are still bearish with our positions as we see the market lacks enough volume to sustain at the news highs.
LTC looks for a strong downtrend after reaching its support at 57.4 and now a reversal is confirmed as RSI and MACD also indicating bearish movement.
It has a lot of resistance to fight in order to reach $68 while it lacks enough support while falling back.
It should hold at 47-49 level before its next rally down to as low as $32 again.
We'll keep this post updated as we see any other confirmations or changes.
Happy Trading.