Crypto Technicals: LTC/USD fails at 71 handle, scope for resumption of weakness

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 66.95 (5-DMA); Resistance: 70.95 (20-DMA)

Technical Analysis: Bias Bearish

Litecoin was trading 2.45% lower on the day at 67.43 at 08:45 GMT.

Major trend is bearish and minor uptrend was capped at 71 handle. Scope for resumption of weakness.

Recovery lacks traction, price action fails to be supported by other indicators.

'Death Cross' (bearish 50-DMA crossover on 200-DMA) keeps pressure lower.

5-DMA is immediate support at 66.73. Break below will see dip till 78.6% Fib at 48.67.

21-EMA is major resistance at 72.08. Any upside only on break above.

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