LTC/USD breaks above 100-DMA, good to long dips
LTC/USD is seen consolidating a break above 4H 200-SMA at 175.58.
Technical studies support further upside in the pair. We see scope for test of 195 levels.
Price action has broken above 100-DMA at 174 on the daily charts.
RSI and Stochs are biased higher and we see +ve DMI crossover which adds to bullish bias.
Close above 100-DMA will see next major resistance at 195 (Jan 28 high) ahead of 206 (38.2% Fib retrace of 375 to 102 fall).
On the flipside, 20-DMA is strong support at 158 levels. Retrace and close below 100-DMA will see test of 20-DMA.
Violation at 20-DMA will invalidate bullish bias.
Good to go long on dips around 175, SL: 160, TP: 195/ 210
Technical studies support further upside in the pair. We see scope for test of 195 levels.
Price action has broken above 100-DMA at 174 on the daily charts.
RSI and Stochs are biased higher and we see +ve DMI crossover which adds to bullish bias.
Close above 100-DMA will see next major resistance at 195 (Jan 28 high) ahead of 206 (38.2% Fib retrace of 375 to 102 fall).
On the flipside, 20-DMA is strong support at 158 levels. Retrace and close below 100-DMA will see test of 20-DMA.
Violation at 20-DMA will invalidate bullish bias.
Good to go long on dips around 175, SL: 160, TP: 195/ 210
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.