LTC has reached a major resistance zone of 55.5. If it can break this and turn this to support, it will likely consolidate in this zone and head up towards 61. If LTC can break this resistance, we can long from 55.5 with a stop loss at 53 and target price of 61.
There is a higher chance of rejection of this zone and a good short opportunity would be to short from 55.5 on rejection (close of daily candle below 55.5) with a stop loss at 57 and target of 50.
There is a higher chance of rejection of this zone and a good short opportunity would be to short from 55.5 on rejection (close of daily candle below 55.5) with a stop loss at 57 and target of 50.