LTC/USD fell as low as $125 and did not break the important support of $118.50. Price has reversed and has broken key trend line resistance while now it challenges recent highs at $145. If bulls manage to recapture $145 we could see $160-65 next.

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Red line -resistance

Green rectangle- support

Blue rectangle – resistance

LTC/USD is challenging the horizontal resistance at $145. With a lower high in place at $125, a break above $145 would be a bullish signal. Price has also broken above the red trend line resistance and all signs point to a move higher. Only a close below $131 would destroy bull’s chances.

The material has been provided by InstaForex Company – www.instaforex.com

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