MavRich_Trading

LTC/USD Price analysis 5/03(HODL)Update

Long
COINBASE:LTCUSD   Litecoin / U.S. Dollar
LTC/USD (LONG SET UP)
BUY AT- $290.00/$280.00/ $270.00/ $260.00

TP.1- $300.00
TP.2- $325.00
TP.3- $350.00
TP.4- $375.00

Support: $290.00/$275.00/ $265.00/$255.00/$245.00//$230.00/ $220.00/ $200.00/ $185.00/ $170.00/ $150.00-$140.00

Resistance: $300.00/ $325.00/ $350.00/ $375.00

The LTC/USDT pair is facing resistance near the 50% Fibonacci retracement level at $270.89. If the bears sink the price below the 20-day EMA , the pair could drop to the 50-day SMA ($224). This is an important level to watch out for because if it cracks, the correction may deepen to $168.

On the contrary, if the bulls successfully defend the 20-day EMA , it will indicate demand at lower levels. The buyers will then try to push the price above $270.89 and reach the 61.8% Fibonacci retracement level at $286.02.

This level may again act as stiff resistance, but if the bulls drive the price above it, the pair could be on track to retest $335.03.