Crypto Technicals: LTC/USD bounces off 21-EMA support, eyes 127 (trendline)

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 104.27 (21-EMA); Resistance: 127 (Rising Trendline)

Technical Analysis: Bias Bullish

LTC/USD failed to close below 21-EMA, bias has turned bullish.

The pair is extending upside for the 3rd straight session, trades 2.20% higher at 113.92 at 07:35 GMT.

Price action has broken above 5-DMA and 200H-SMA. Volatility is rising on the intraday charts.

'Cup and Handle' pattern seen on the daily charts. Price extends gains in accordance.

The pair has ignored a Doji formation on the previous weeks candle. RSI has turned on the daily charts.

Long wick on the downside shows buying pressure at lows. Scope for test of 127 (trendline)

Immediate support is seen at 200H SMA at 109.34. Weakness only on close below 21-EMA.

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