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) $10,910.20 (+1.65%)
  • Ethereum (ETH) $368.22 (+3.62%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $232.96 (+2.48%)
  • Binance Coin (BNB) $29.09 (+2.86%)
  • Bitcoin (BTC) $10,910.20 (+1.65%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft