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Crypto Technicals: LTC/USD recovery capped at 21-EMA (59.48), break above negates near-term bearish bias

LTC/USD chart - Trading View 

Exchange - Coinbase

Support: 57.53 (50-DMA); Resistance: 59.48 (21-EMA)

Technical Analysis: Bias Neutral to slightly bearish

LTC/USD halts 2 sessions of gains, trades rangebound between 5-DMA and 21-EMA.

The pair was trading 0.86% lower at 58.69 at 04:40 GMT with session high at 59.30 and low at 58.48.

Recovery failed to break past 200H SMA, finds series of resistance upto 60.82 (55-EMA).

Major trend remains bearish and volatility is low. Break below 50-DMA will see weakness.

Stochs are at oversold territory and combined with 'bullish divergence' keeps scope for upside.

Break above 21-EMA eyes test of 55-EMA at 60.83. Break above 100-DMA (63.88) will see upside continuation.
 

By Anupama Grandhi
  • Market Data
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