After breaking down the strong support at $175, the bears succeeded to bring LTC to $100 level.
Strong buying triggered at this level and a pullback carried it to 100-day SMA which acts as a resistance. Apart from 100-day SMA Litcoin will face a strong resistance at $175 level which is 23.6 percent Fibonacci retracement level of the recent fall from $420 to $100.
Hence, if LTC can't break out this level as well as the downtrend in the near future, it may retest the $100 again.
At this current situation we don't recommend any trade on LTC.
Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns.
Strong buying triggered at this level and a pullback carried it to 100-day SMA which acts as a resistance. Apart from 100-day SMA Litcoin will face a strong resistance at $175 level which is 23.6 percent Fibonacci retracement level of the recent fall from $420 to $100.
Hence, if LTC can't break out this level as well as the downtrend in the near future, it may retest the $100 again.
At this current situation we don't recommend any trade on LTC.
Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns.
