Crypto Technicals: LTC/USD pauses upside, can 'Golden Cross' on hourly charts support further gains?

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 40.72 (5-DMA); Resistance: 42.69 (20-DMA)

Technical Analysis: Bias slightly bullish

LTC/USD trades largely rangebound on the day with session high at 42.57 and low at 41.66.

After extending range trade for a couple of sessions, the pair broke out of range trade to close 5.54% higher on 22nd trade.

Technical indicators are turning slightly bullish, but breakout above 21-EMA could change near-term dynamics.

MACD is showing a bullish crossover, Stochs and RSI are biased higher. Scope for bullish resumption.

Further, 'Golden Cross' (Bullish 50-DMA crossover on 200-DMA) also raises scope for gains.

Major trend is bearish, breakout at 21-EMA could see gains till 55-EMA at 48.58. Failure at 21-EMA will see bearish resumption.

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