Crypto Technicals: Litecoin grinds lower for the 3rd straight session, scope for test of 50-DMA (81.52)

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 86 (21-EMA); Resistance: 98

Technical Analysis: Bias Slightly Bearish

LTC/USD is extending weakness for the 3rd straight session, bias lower.

The pair is trading below 5-DMA which is now showing a turn Southwards.

Price has also formed a bearish divergence on RSI on the daily charts.

Major trend is definitely bullish, a correction till 21-EMA likely.

Further weakness will see test of 50-DMA at 81.53. Bullish invalidation only below 200-DMA.

Bulls have been struggling to get past $98 mark. Breakout there could see resumption of upside.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.