Crypto Technicals: LTC/USD capped below 21-EMA, tests support at 2H 200 SMA (56.20)

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 51.50 (trendline); Resistance: 59.39 (21-EMA)

Technical Analysis: Bias bearish

LTC/USD capped below 21-EMA, extends weakness for the 2nd straight session.

The pair has slipped below 5-DMA and is holding support at 2H 200 SMA at 56.20.

Price action has slipped below 200H SMA (56.82), technical indicators on the intraday charts are turning bearish.

RSI on the daily charts is below 50 and biased lower. 'Bearish divergence' on the hourly charts adds to the bearish bias.

Break below 2H 200 SMA will see drag till major trendline support at 51.50. Violation there could see test of 78.6% Fib at 48.67.

5-DMA is immediate resistance at 57.61. Breakout above 21-EMA (59.38) negates bearish bias.

TokenPost | [email protected]