Copy link
Increase text size
Decrease text size
Link copied

Crypto Technicals: LTC/USD pivotal at 200-DMA (62.19), 'Golden Cross' on hourly charts raises scope for upside

Tue, 28 Jan 2020, 07:18 am UTC

LTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Bullish

GMMA Indicator: Major Trend - Bullish; Minor Trend - Bullish

Overbought/ Oversold Index: Neutral

Volatility: High, Shrinking

Support: 56.33 (5-DMA); Resistance: 62.19 (200-DMA)

LTC/USD was trading 1.98% higher on the day at 59.60 at 07:00 GMT, slightly lower from session highs at 61.44.

The pair is extending gains for the 3rd consecutive session and technical indicators have turned bullish for the near-term.

The pair has bounced off daily cloud support with a 'dragonfly Doji' formation and 'Golden Cross' on the hourly charts adds to the upside bias.

Price action has broken above stiff resistance at 55W EMA and is on track to test 200-DMA at 62.19.

Major and minor trend as evidenced by GMMA indicator are biased higher. Break above 200-DMA to buoy bulls.

200-DMA breakout will support a sustained upside.Next bull target aligns at 55W EMA at 66.15 ahead of 38.2% Fib at 77.95.

Failure at 200-DMA and break below 21-EMA support at 54.27 negates near-term upside bias

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,546.69 (-3.60%)
  • Ethereum (ETH) $251.15 (-4.63%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $397.79 (-8.06%)
  • Bitcoin SV (BSV) $292.48 (-3.55%)
  • Bitcoin (BTC) $9,546.69 (-3.60%)
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