LTCUSD is approaching our first resistance at 79.53 (horizontal overlap resistance, 23.6% Fibonacci retracement, short term ascending support-turned-resistance line) and a strong reaction might occur below this level, pushing price down to our major support at 72.40 (horizontal swing low support). A breakout below our intermediate support at 75.85 (horizontal swing low support, 100% Fibonacci extension) might provide the bearish acceleration to our major support target. Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (34) is also approaching resistance where we might see a corresponding drop in price.
RSI (34) is also approaching resistance where we might see a corresponding drop in price.