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Crypto Technicals: LTC/USD bounces off 21-EMA support, next bull target $109

Fri, 24 May 2019, 08:43 am UTC

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 87.01 (21-EMA); Resistance: 98

Technical Analysis: Bias Bullish

LTC/USD is extending gains for the 2nd straight session, bias higher.

The pair was trading 7.69% higher on the day at 95.73 at 08:25 GMT.

Pullback in the pair has held support at 21-EMA. Weakness only on break below.

The pair has edged above 5-DMA and RSI is now showing a turn higher.

Major trend is definitely bullish, a bearish divergence on RSI on the daily charts could cap upside.

Bulls have been struggling to get past $98 mark. Breakout there could see test of $109 level.

Break below 21-EMA will see test of 50-DMA at 81.75. Bullish invalidation only below 200-DMA.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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