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Crypto Technicals: LTC/USD capped below cloud top, break below 55-EMA (61.19) could see more pain

Thu, 07 Nov 2019, 10:42 am UTC

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 58.80 (21-EMA); Resistance: 65.26 (cloud top)

Technical Analysis: Neutral

Litecoin was rejected shy of cloud top resistance at 65.26, bias neutral.

LTC/USD has slipped over 5% to test 55-EMA support at 61.18, break below could drag the pair lower.

RSI has turned lower, but holds above the 50 mark. Stochs are at overbought levels.

Price has slipped below 1H 110-EMA support (61.55). Finds next major support at 200H SMA at 59.83.

Intraday bias has turned slightly bearish and volatility is rising. Major trend is bearish and scope for downside resumption.

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