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Crypto Technicals: LTC/USD consolidates above 200H SMA, break above 21-EMA (59.68) to fuel gains

Wed, 09 Oct 2019, 08:16 am UTC

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 56.64 (5-DMA); Resistance: 59.69 (21-EMA)

Technical Analysis: Bias slightly bullish

LTC/USD holds marginal gains on the day, trades at 57.34 at 08:00 GMT.

The pair is extending gradual grind from multi-week lows at 50.25.

Price action is holding above 5-DMA support, MACD shows bullish crossover on signal line.

Stochs and RSI are biased higher and 'Bullish Divergence' raises scope for upside.

The pair is consolidating above 200H SMA, finds stiff resistance at 21-EMA (59.68).

Break above 21-EMA to propel the pair higher. Test of 55-EMA at 67.99 then likely.

Major trend is bearish, rejection at 21-EMA and dip below 5-DMA will see resumption of weakness.

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