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Crypto Technicals: LTC/USD turns bearish, eyes trendline support at 51.60

LTC/USD chart - Trading View 

Exchange - Coinbase

Support: 51.60 (Trendline); Resistance: 58.27 (21-EMA)

Technical Analysis: Bias Bearish

LTC/USD fails at stiff resistance at 21-EMA (58.27), intraday bias turns bearish.

The pair now eyes major support at 51.60 (rising trendline), break below will accentuate weakness.

Major trend in the pair is bearish. Recovery has been capped below 21-EMA.

Technical indicators have turned bearish. RSI is below 50 and biased lower. Stochs have turned bearish.

The pair eyes major support at 51.60 (rising trendline). Breach below will drag the pair lower. Next major support lies at 78.6% Fib at 48.67.

Near-term upside only above 21-EMA. Bearish invalidation only above 200-DMA (88.05).
 

By Anupama Grandhi
  • Market Data
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