Crypto Technicals: Litecoin shows bearish signs, confirms 'Death Cross' on 4H charts
Thu, 04 Jul 2019, 12:32 pm UTC
LTC/USD chart - Trading View
Exchange - Coinbase
Support: 115.14 (55-EMA); Resistance: 125.64 (21-EMA)
Technical Analysis: Bias turning bearish
Major trend in Litecoin has definitely turned bullish as indicated by GMMA indicator.
However, the pair is flashing bearish signals on the intraday charts.
'Death Cross' confirmed on the 4 hourly charts raises scope for downside.
The pair has slipped below 21-EMA which is capping recovery attempts.
Bearish divergence on RSI and rising volatility adds to the bearish bias.
The pair is holding support at 55-EMA (115.18), break below will see downside.
Next major target lies at 110-EMA at 98.48. Breakout above 21-EMA could negate near-term bearish bias.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
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