Short term resistance level on the 1D has been hit and has acted as support, with the 25 MA also adding support at the same level. There has been a large sell of recently of LTC / USD and one would expect a bounce here. A trend of repeated higher lows also adds confluence and a level of support, so a bounce seems imminent. There are no strong resistance levels near to this level, so the potential upside may be larger than the first level indicated. Entering Trade here.
Note
Trade stopped out. Shame as move up followed.
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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.