Crypto Technicals: LTC/USD holds 200H MA support, 'Golden Cross' raises scope for upside

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 40.20 (200H MA); Resistance: 42.72 (21-EMA)

Technical Analysis: Bias Neutral

LTC/USD trades largely rangebound on the day with session high at 41.00 and low at 40.33.

Recovery in the pair was capped at 21-EMA (currently at 42.72), break above required for upside continuation.

Technical indicators are turning slightly bullish. Stochs show bullish momentum. Bullish MACD crossover adds to upside bias.

The pair is holding above 200H MA support. Further, 'Golden Cross' (Bullish 50-DMA crossover on 200-DMA) raises scope for gains.

Major trend is still bearish, but, breakout at 21-EMA could change near-term dynamics.

Gains till 55-EMA at 48.25 likely. Failure at 21-EMA will see bearish resumption.

TokenPost | [email protected]