LTCUSD approaching support, potential bounce!
LTCUSD is approaching our first support at 53.58 (horizontal overlap support, 23.6% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 57.86 (horizontal swing high resistance, 100% Fibonacci extension, 50% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
RSI (34) is also seeing a bullish exit and we might see a corresponding bounce in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) is also seeing a bullish exit and we might see a corresponding bounce in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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