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Crypto Technicals: LTC/USD holds above 50-DMA support, finds strong trendline support at 72.50

LTC/USD chart - Trading View 

Exchange - Bitfinex

Support: 72.50 (trendline); Resistance: 75.51 (5-DMA)

Technical Analysis: Bias Neutral to slightly Bearish

- Litecoin trades marginally higher on the day at 74.03 at 1150 GMT

- The pair is extending gradual weakness for the 3rd straight week

- Price action has slipped below 21-EMA and recovery seems to be capped at 5-DMA

- The pair has bounced off 50-DMA support and also finds strong trendline support at 72.50

- Technical indicators show a neutral to slightly bearish bias

- Break below 50-DMA eyes 50% Fib at 60.98. Bearish invalidation above 20-DMA

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

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