easyMarkets
Short

LTCUSD approaching resistance, potential drop!

COINBASE:LTCUSD   Litecoin / U.S. Dollar
LTCUSD is approaching our first resistance at 56.85 (horizontal swing high resistance, 23.6% Fibonacci retracement , 100% Fibonacci extension , Elliot wave structure) where a strong drop might occur to our major support at 44.79 (horizontal swing low support, 38.2%, 76.4% Fibonacci retracement ).
Stochastic (34,5,3) is also approaching resistance where 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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