Copy link
Increase text size
Decrease text size
Link copied

Crypto Technicals: LTC/USD breaks above 21-EMA, scope for further gains

Mon, 16 Sep 2019, 06:48 am UTC

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 70.13 (5-DMA); Resistance: 77.21 (50-DMA)

Technical Analysis: Bias Slightly Bullish

LTC/USD trades 1.95% higher on the day at 71.51 at 06:30 GMT, bias slightly bullish.

The pair has broken above 21-EMA resistance and we see scope for further gains.

Momentum studies are bullish. Stochs and RSI are biased higher. MACD supports upside.

That said, 'Death Cross' (bearish 50-DMA crossover on 200-DMA) limits gains.

Volatility is low and shrinking, upside could be capped at upper Bollinger band at 72.88.

Continuation of upside momentum could see test of 50-DMA at 77.21 ahead of 23.6% Fib at 81.86.

Failure to hold above 21-EMA negates any bullish bias. Sideways along 21-EMA will continue.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

Back to top
Copyright ⓒ TokenPost. All Rights Reserved.