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Crypto Technicals: Litecoin treads water below 200-DMA, bias bearish

Tue, 20 Aug 2019, 10:20 am UTC

LTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Bearish

Litecoin extends sideways grind, consolidates break below 200-DMA.

LTC/USD was trading largely rangebound, 0.76% lower at 76.57 at 07:45 GMT.

Technical bias still remains bearish with no major signs of reversal seen.

Price action is below major moving averages and cloud. RSI is well below 50 level and Stochs show bearish momentum.

The pair finds strong support at 110W EMA at 71.55. Break below will see resumption of weakness.

Next major support lies at 61.8% Fib at 69.47 ahead of 59.90 (Apr 2019 low). Retrace above 200-DMA negates near-term bearishness.

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