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 - EconoTimes)
LTC/USD chart - Trading View
Exchange - Coinbase
Support: 51.50 (trendline); Resistance: 55.83 (5-DMA)
Technical Analysis: Bias Bearish
LTC/USD trades rangebound, at 54.89, up 0.75% at 07:35 GMT.
The pair is extending sideways grind, bias remains bearish.
Recovery attempts lack traction, are not supported by underlying indicators.
Immediate resistance lies at 5-DMA at 55.83. Break above will see minor gains. Any meaningful upside only above 21-EMA.
RSI well below 50, momentum strongly bearish, volatility rising on the weekly charts.
Scope for test of trendline support at 51.50. Violation there could see test of 78.6% Fib at 48.67.
