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Crypto Technicals: Correction in LTC/USD imminent, overbought conditions and major resistance corroborate

LTC/USD chart - Trading View 

Exchange - Coinbase

Support: 127.62 (5-DMA); Resistance: 148.07 (78.6% Fib)

Technical Analysis: Bias Bullish

LTC/USD hits new multi-month highs at 141.42, before paring some gains.

The pair is trading at 139.16 at 03:45 GMT, up 2.20% as we write.

Major trend in the pair is strongly bullish, but signs of correction are strong.

Oscillators have approached overbought conditions and Stochastis RSI is also in the overbought zone.

As the pair extends gains in the 'Cup & Handle' pattern, we see strong resistance at 142 levels.

Also, price action has edged above the Upper Bollinger Band.

Minor correction likely before the next leg higher. Immediate support lies at 5-DMA at 127.62.

Break below 5-DMA could see dip till 21-EMA at 113.79. Bullish invalidation only below 200-DMA.

Resumption of upside will see next bull target at 165 levels. 

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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July 2 15:00 UTC Released

DKCurrency Reserves

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449.6 Stale

Forecast

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451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

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50 %

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48.6 %

January 31 00:00 UTC 773651773651m

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2016 bln ARS

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 785471785471m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 773651773651m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 785471785471m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 773651773651m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 773651773651m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 773651773651m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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