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Crypto Technicals: LTC/USD trades weaker amid crypto market correction, finds strong support at 75.33 (200H MA)

Thu, 13 Feb 2020, 10:37 am UTC

LTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Bullish

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

Overbought/ Oversold Index: Overbought

Volatility: High

Support: 75.33 (200H MA); Resistance: 84.09 (weekly cloud)

LTC/USD has erased gains on the day, was trading 2.81% lower at 79.17 at around 10:25 GMT.

The pair is slipping lower in sync with the broader crypto market correction. That said, bias remains bullish.

The pair finds strong support at 200H MA at 75.33. Breach at 200H MA support could drag prices lower.

Next major support lies at 21-EMA at 70.07. Break below could see dip till 200-DMA at 60.50,

For now, the pair does not show any major signs of reversal. Correction likely to be limited.

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