LTCUSD approaching major resistance, prepare for potential drop!
LTCUSD has risen to major resistance at 149.41 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension, descending resistance) and a strong reaction could occur at this level to drive price down to at least 108.41 support (Fibonacci extension, horizontal swing low support). Our long term descending resistance line is also adding a lot of bearish momentum to this setup.
Stochastic (21,5,3) is seeing major resistance at 99% where a corresponding reaction could occur.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results