LTC/USD chart - Trading View
Exchange - Coinbase
Support: 77.80 (21-EMA); Resistance: 86.54 (weekly cloud)
Technical Analysis: Bias Neutral
- Litecoin upside has been capped at weekly cloud. Overall market sentiment is still holding bullish
- LTC/USD is holding support at 21-EMA, break below could change the near-term equation
- RSI is above 50 levels, but Stochs are sharply lower. Technical indicators are conflicting
- Nevertheless, 'Golden Cross ' formed on the daily charts keeps scope for gains
- Break below 21-EMA will see dip till 70.20 (38.2% Fib) and then 65.78 (50-DMA)
- On the flipside, bounce off 21-EMA and close above 5-DMA accompanied by turn in Stochs and RSI will see resumption of upside
- Scope then for test of 99 levels. Break above weekly cloud base to propel the pair higher
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.