Crypto Technicals: LTC/USD extends sideways grind, recovery fizzles out at 55-EMA (61.27)

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 56.61 (21-EMA); Resistance: 61.27 (55-EMA)

Technical Analysis: Bias Neutral

LTC/USD is extending sideways trade, remains capped below 55-EMA, bias neutral.

The pair was trading largely muted at 58.14 at 07:45 GMT, with session high at 59.17 and low at 57.40.

Daily cloud and 55-EMA offer stiff resistance, any further gains only on break above.

Major trend is bearish and minor uptrend has fizzled out at 55-EMA resistance. 'Bullish divergence' fails to create upside momentum.

Immediate support is seen at 21-EMA at 56.61. Retrace below will see downside resumption.

Break above cloud will support bullish bias. Next major hurdle lies at 23.6% Fib at 70.53. Further bullishness could see test of 200-DMA at 86.04.

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