LTCUSD is approaching our first support at 56 (horizontal swing low support, 78.6% Fibonacci retracement, 100% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 62.11 (horizontal overlap resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias. RSI (55) is also seeing a bullish exit and 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.