Copy link
Increase text size
Decrease text size
Link copied

Crypto Technicals: LTC/USD bounces off 5-DMA support, eyes next major hurdle at 200-DMA (65.43)

Fri, 17 Jan 2020, 06:41 am UTC

LTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Bullish

GMMA Indicator: Major Trend - Turning slightly bullish; Minor Trend - Bullish

Overbought/ Oversold Index: Overbought

Volatility: High and rising (Bollibger Bands widen)

Support: 56.66 (5-DMA); Resistance: 61.87 (23.6% Fib)

LTC/USD has bounced off 5-DMA support with a 'Hammer' formation in the previous session.

The pair was trading 3.90% higher at 59.74 at around 06:30 GMT, bias remains bullish.

Technical studies support further gains in the pair. Price action has broken out of daily cloud.

Momentum studies are strongly bullish and volatility is high and rising. MACD and ADX support uptrend.

Upside in the pair pauses shy of 23.6% Fib at 61.87. Break above targets next major hurdle at 200-DMA at 65.43.

Break below 5-DMA support will see dip till 110-EMA at 52.89. Breach at 110-EMA negates near-term bullish bias.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,655.66 (-1.98%)
  • Ethereum (ETH) $255.96 (-0.36%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $401.87 (-4.42%)
  • Bitcoin SV (BSV) $307.74 (+6.15%)
  • Bitcoin (BTC) $9,655.66 (-1.98%)
Feb 17, 2020 (Monday)
13:34
Fullerton Markets adds support for cryptocurrency deposits and withdrawals
13:02
Crypto asset custodian Copper raises $8M in Series A round
12:06
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:05
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:58
CFTC sues Colorado resident with fraud in crypto-related Ponzi scheme
11:22
Crypto Technicals: ETH/USD slips below 5-DMA, 'Golden Cross' to limit downside
11:15
Central Bank of The Bahamas to roll out CBDC in H2 2020
10:45
Stellar Development Foundation joins Blockchain Association
10:21
Dubai Multi Commodities Centre to launch blockchain-based sugar trading platform
10:20
Crypto Technicals: BTC/USD holds 21-EMA support, break below could see further weakness
09:22
Binance applied for an operating license in Singapore, CEO confirms
07:23
IOHK establishes new research lab at University of Wyoming
06:53
Chinese forex regulator SAFE’s blockchain cross-border financing pilot continues expansion
05:14
Blockchain social media platform Steemit to migrate to TRON network
Feb 14, 2020 (Friday)
13:11
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
13:11
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:24
Israel’s stock exchange partners with Edinburgh-based startup for its Blockchain Securities Lending platform
11:48
Blockchain insurance startup B3i completes 30 reinsurance contracts on its platform
11:47
Crypto Technicals: TRON (TRX) confirms 'Golden Cross' on the daily charts, eyes 61.8% Fib at 0.0297
11:04
Crypto investment firm Galaxy Digital lays off 15% of its workforce
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft