easyMarkets
Short

LTCUSD approaching resistance, potential drop!

COINBASE:LTCUSD   Litecoin / U.S. Dollar
LTCUSD is approaching our first resistance at 40.15 (horizontal pullback resistance, 23.6% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 33.34 (61.8% Fibonacci extension ). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
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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