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Crypto Technicals: LTC/USD pauses downside at 84 handle, bias still bearish

LTC/USD chart - Trading View 

Exchange - Coinbase

Support: 84.09 (50% Fib); Resistance: 97.51 (5-DMA)

Technical Analysis: Bias Bearish

LTC/USD has edged higher from 8-week lows at 84.88, bias still bearish.

The pair is trading at 88.61 at 10:52 GMT, down 1.10% at the time of writing.

'Potential Hammer' formation on the daily charts keeps downside limited.

Technical studies support weakness. Break below 84 handle could see resumption of downside.

Immediate support lies at 55W EMA at 81.04. Next major support lies at 200-DMA at 73.65. 

Breach at 200-DMA opens up major downside for the pair. Weakness till 48.67 then likely.

On the flipside, retrace above 110-EMA could dent downside. Upside resumption only above 20-DMA (115).

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

By Anupama Grandhi
  • Market Data
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