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Crypto Technicals: LTC/USD grinds higher, retraces brief dip below 200H MA

Wed, 22 Jan 2020, 10:40 am UTC

LTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Bullish

GMMA Indicator: Major Trend - Bullish; Minor Trend - Bullish

Overbought/ Oversold Index: Neural

Volatility: Shrinking

Support: 52.71 (21-EMA); Resistance: 63.90 (200-DMA)

LTC/USD was trading 1.03% higher at 58.08 at around 09:50 GMT, bias is bullish.

The pair has retraced brief dip below 200H MA, scope for upside resumption.

Price action holds above daily cloud and correction has paused above 110-EMA.

Momentum studies are bullish. Stochs and RSI have again turned bullish after minor correction from overbought levels.

Major and minor trend as evidenced by GMMA indicator are bullish and resumption of upside will see test of 200-DMA at 63.90.

110-EMA is strong support at 53.34. Breach below cloud will see bullish invalidation.

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