easyMarkets
Long

LTCUSD approaching support, potential bounce!

COINBASE:LTCUSD   Litecoin / U.S. Dollar
LTCUSD is approaching our first support at 27.67 (horizontal swing low support, 61.8% fibonacci retracement , 61.8% fibonacci extension ) and a strong bounce might occur above this level pushing price up to our major resistance at 32.01 (horizontal overlap resistance, 50% fibonacci retracement ).
Stochastic (34,5,3) is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
You Nailed it....Do we continue to push on is the question...as of right now we are slightly above your target of 32.01. Could this be the big bounce from the inverse head and shoulders we have been seeing develop?
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