Crypto Technicals: LTC/USD edges above hourly cloud, further gains likely

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 45.65 (50H MA); Resistance: 47.64 (110H EMA)

Technical Analysis: Bias slightly bullish

LTC/USD edges lower from session highs 47.64, intraday bias neutral to slightly bullish.

The pair is extending upside for the 2nd straight session, was trading at 46.33, up 1.73% at 07:30 GMT.

Price action has edged higher from multi-month lows at 45.28, hovers around 5-DMA at 46.33.

Technical indicators are turning slightly bullish on the intraday charts, but major trend remains bearish.

Price has edged above hourly cloud and 'Bullish Divergence' on RSI on the hourly charts keeps scope for further gains.

200H MA at 50.80 is next immediate hurdle on the upside. Break above will see gains upto 21-EMA at 53.38.

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