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Crypto Technicals: Litecoin grinds lower for the 3rd straight session, scope for test of 50-DMA (81.52)
LTC/USD chart - Trading View
Exchange - Coinbase
Support: 86 (21-EMA); Resistance: 98
Technical Analysis: Bias Slightly Bearish
LTC/USD is extending weakness for the 3rd straight session, bias lower.
The pair is trading below 5-DMA which is now showing a turn Southwards.
Price has also formed a bearish divergence on RSI on the daily charts.
Major trend is definitely bullish, a correction till 21-EMA likely.
Further weakness will see test of 50-DMA at 81.53. Bullish invalidation only below 200-DMA.
Bulls have been struggling to get past $98 mark. Breakout there could see resumption of upside.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.