Crypto Technicals: LTC/USD surge pauses at 78 (trendline), break above to accentuate gains

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 70.68 (55-EMA); Resistance: 78 (Trendline)

LTC/USD saw a flash surge in the Asian session today, hit 77.94 before paring gains.

The pair paused gains shy of stiff trendline resistance at 78, break above will see further upside.

The LTC ecosystem is anticipating a halving in August 2019, which could increase the coin’s trading value.

Also, Litecoin’s partnership with Glory Kickboxing is a boost to increase coin’s adoption in the mainstream market.

Technical bias for the pair is neutral for now. Price action is consolidating above 55-EMA support.

Breakout above trendline resistance (currently at 78) could tilt the bias to bullish.

On the flipside, break below 70.70 (nearly converged 55-EMA and daily cloud) will invalidate bullish bias.

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