LTC/USD has had a solid run up to ~$59, but the party might be rolling to a close as LTC/USD has daily bearish divergence and has double-topped with 2 wick rejections from $59 as it sits. LTC/USD has been leading the market for the last 2-3 months, and if it starts to pull-back we might see that impact flow over to Bitcoin and Ethereum. The .236 fib and the .382 fib are area's I'm watching for the price to potentially pull-back to.
Strong resistance: $59
Potential pull-back zones if the price breaks down:
-.236 fib around $50
-.382 fib around $45
Moving average guide (All daily moving averages for this post):
10 MA in Orange
20 MA in Pink
50 MA in Green
100 MA in Yellow
200 MA in Red
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk.
Strong resistance: $59
Potential pull-back zones if the price breaks down:
-.236 fib around $50
-.382 fib around $45
Moving average guide (All daily moving averages for this post):
10 MA in Orange
20 MA in Pink
50 MA in Green
100 MA in Yellow
200 MA in Red
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk.
Comment:
So far so good:
