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LTC/USD: Another Push to the Upside is Pending

From dailyforex.com

Volatility in the cryptocurrency market remains elevated and while a broadly bearish bias has been established, the LTC/USD may be on the verge of another push to the upside. Following the breakout above its support zone, this cryptocurrency pair briefly eclipsed its descending 50.0 Fibonacci Retracement Fan Resistance Level. Price action was then pressured into a reversal and has now approached the top range of its support zone. Such a move is normal and often represents a good buying opportunity as the breakout is likely to accelerate. An advance into its next short-term resistance zone will keep the long-term ... (full story)

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  • Category: Technical Analysis