Crypto Technicals: LTC/USD attempts minor recovery from 9-month lows at 42.16, bias strongly bearish

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 36.29 (88.6% Fib); Resistance: 46.69 (5-DMA)

Technical Analysis: Bias Bearish

LTC/USD has edged higher from 9-month lows at 42.16, bias remains strongly bearish.

The pair was trading at 43.42 at 09:10 GMT, down 1.23% at the time of writing.

Momentum strongly with the bears, recovery lacks traction, scope for further weakness.

Volatility is rising on the weekly charts and GMMA shows both minor and major trend have shifted to bearish.

The pair closed below 78.6% Fib (48.67) and is on track to test 88.6% Fib at 36.29.

Immediate resistance is seen at 5-DMA at 46.73. Decisive break above could see gains till 21-EMA at 53.89.

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