Crypto Technicals: LTC/USD confirms 'Death Cross' on 4-hour charts, scope for downside resumption

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 50.25 (Sept 26 low); Resistance: 55.94 (5-DMA)

Technical Analysis: Bias Bearish

LTC/USD is trading in a narrow range, at 54.28 at 06:15 GMT, bias remains bearish.

Major trend in the pair is bearish and minor recovery attempts lack traction.

The pair is extending weakness for the 4th straight session, upside capped below 5-DMA.

'Death Cross' confirmed on the 4-hourly charts raises scope for further downside.

Technical indicators also support downside. Stochs and RSI are sharply lower and price action has slipped below daily cloud.

Volatility is also rising as evidenced by widening Bollinger bands. Dip till 50.25 (Sept 26 low) likely.

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