Crypto Technicals: LTC/USD breaks above 21-EMA, scope for further gains
Mon, 16 Sep 2019, 06:48 am UTC
LTC/USD chart - Trading View
Exchange - Coinbase
Support: 70.13 (5-DMA); Resistance: 77.21 (50-DMA)
Technical Analysis: Bias Slightly Bullish
LTC/USD trades 1.95% higher on the day at 71.51 at 06:30 GMT, bias slightly bullish.
The pair has broken above 21-EMA resistance and we see scope for further gains.
Momentum studies are bullish. Stochs and RSI are biased higher. MACD supports upside.
That said, 'Death Cross' (bearish 50-DMA crossover on 200-DMA) limits gains.
Volatility is low and shrinking, upside could be capped at upper Bollinger band at 72.88.
Continuation of upside momentum could see test of 50-DMA at 77.21 ahead of 23.6% Fib at 81.86.
Failure to hold above 21-EMA negates any bullish bias. Sideways along 21-EMA will continue.
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