Cryptocurrency Derivatives Series: Block-Halving & Open Interest Factors Drive Bitcoin Price To $10k Trajectory, Long Hedges Intact
FxWirePro: CAD/JPY Minor Trend Fails At Stiff Resistance, Major Downtrend Intact On Head & Shoulder Pattern – Trade & Hedging Setup
Digital Currency/Stablecoin/Tokenization Series: Publish And TokenPost Debuts Media Industry’s Stablecoin (NKRW)
Digital Currency Revolution Series: Quick Glance At Interest-Bearing Accounts For Holding Bitcoin On ‘Blockchain.com’
Digital Currency Revolution Series: A Glimpse At Scope For Potential Digital Forms Of Euro, Dollar & Yuan Amid Pandemic Covid-19 Crisis
Cryptocurrency Series: BTC Long Hedges Productive As Bitcoin Bulls Staged For 8th Consecutive Weeks’ Rallies
FxWirePro: USD/SEK eases following Sweden's better-than-expected economic data, outlook remains bearish
Crypto Technicals: Litecoin (LTC) flashing signs of weakness, bearish engulfing and overbought oscillators weigh
LTC/USD chart - Trading View
Exchange - Coinbase
Support: 71.72 (21-EMA); Resistance: 78.10 (55-EMA)
Technical Analysis: Bias turning bearish
LTC/USD was trading 4.95% lower on the day at 73.90 at 07:55 GMT, bias is turning bearish.
The pair is struggling to break past stiff resistance at 55-EMA at 78.09, 'Death Cross' keeps upside limited.
Price action is on track to form a 'Bearish Engulfing' pattern on the daily chart which might plummet prices.
Further, oscillators are in overbought territory, ripe for roll-back into neutral zone.
Major trend is bearish and Stochastics RSI is also at highly overbought levels.
21-EMA is immediate support at 71.70, break below will see dip till lower Bollinger band at 63.09.
On the flipside, breakout above 55-EMA (78.10) required for upside continuation.