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Crypto Technicals: LTC/USD extends range trade, 'Bullish Divergence' keeps scope for upside

LTC/USD chart - Trading View 

Exchange - Coinbase

Support: 55.29 (20-DMA); Resistance: 63.90 (55-EMA)

Technical Analysis: Bias Neutral

LTC/USD extends rangebound trade, holds above 5-DMA support.

The pair was trading largely muted at 54.81 at 10:20 GMT, after closing 0.44% lower in the previous session.

Price action has bounced off strong trendline support and 'Bullish Divergence' keeps scope for upside.

Stochastics RSI is now biased higher and constriction of shorter-term moving averages on GMMA indicator shows possible shift in near-term trend.

Breakout above 21-EMA will see upside till next hurdle at 50-DMA at 62 and then cloud at 65.26.

5-DMA is immediate support at 54.21. Break below trendline support (52.30) negates upside bias.
 

By Anupama Grandhi
  • Market Data
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