Crypto Technicals: LTC/USD struggles at 21-EMA, upside only on decisive break above

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 67.69 (5-DMA); Resistance: 70.50 (21-EMA)

Technical Analysis: Bias Bearish

Litecoin struggles at extend gains above 21-EMA which is offering stiff resistance at 70.50.

LTC/USD slips lower from session highs at 70.64 to trade at 68.95 at 04:00 GMT, down 2.28% on the day.

Major trend in the pair is bearish. Price action is below cloud and major moving averages.

'Death Cross' (bearish 50-DMA crossover on 200-DMA) keeps downside pressure. Stochastics RSI has approached overbought levels.

Decisive breakout at 21-EMA could see gains upto 50-DMA (80.29). Failure to break above 21-EMA could see resumption of downside.

Immediate support lies at 5-DMA at 67.70. Break below will see weakness till 78.6% Fib at 48.67.

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