Long term trade idea for LTC USD based on the Support and Resistance levels and price action.
Looks like the price is going to retrace a bit from this level as a resistance can be seen at 50.02 level.
Price suggests a drop to 42.65 possibly to 38.02 where a support can be seen.
If the price will drop to those levels it's a good entry point to go long for long term trade of buy and hold with TP levels set to 50.00 or to 56.54 possibly 90 if you are willing to hold the trade for few months.
SL would be based on your risk appetite and your risk management and depending if you are using a broker to trade LTC -0.92% or if you will be buying LTC -0.92% and storing it in your LTC -0.92% wallet.
SL can be set to 32.00
At this point it is best to wait and see where the price will be heading as you will be more profitable waiting on the sideline and enter long term than be caught on the wrong side of the market.
Looks like the price is going to retrace a bit from this level as a resistance can be seen at 50.02 level.
Price suggests a drop to 42.65 possibly to 38.02 where a support can be seen.
If the price will drop to those levels it's a good entry point to go long for long term trade of buy and hold with TP levels set to 50.00 or to 56.54 possibly 90 if you are willing to hold the trade for few months.
SL would be based on your risk appetite and your risk management and depending if you are using a broker to trade LTC -0.92% or if you will be buying LTC -0.92% and storing it in your LTC -0.92% wallet.
SL can be set to 32.00
At this point it is best to wait and see where the price will be heading as you will be more profitable waiting on the sideline and enter long term than be caught on the wrong side of the market.