Crypto Technicals: LTC/USD struggles at daily cloud, 'Bullish Divergence' keeps scope for upside

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 56 (21-EMA); Resistance: 62.03 (cloud base)

Technical Analysis: Neutral

Litecoin fails to extend gains, retraces over 2.5% in the days trade till now.

Daily cloud offers stiff resistance, any further gains only on break above.

Stochs and RSI are biased higher and 'Bullish Divergence' keeps scope for upside.

Break above cloud finds next major hurdle at 23.6% Fib at 70.53. Further bullishness could see test of 200-DMA at 86.36.

Major trend as shown by the GMMA indicator (downward sloping long-term MAs) remains bearish.

Immediate support is seen at 21-EMA at 56.02. Retrace below will see downside resumption.

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