Crypto Technicals: LTC/USD takes out 55-EMA resistance, set to extend winning streak

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 45.99 (55-EMA); Resistance: 50.75 (Trendline)

Technical Analysis: Bias Bullish

LTC/USD extends winning streak as bulls take out 55-EMA resistance on Tuesday's trade.

The pair was trading at 47.94, up 3.41% at around 07:10 GMT, bias remains bullish.

Price action is extending break above 55-EMA, breaks into daily cloud. Rising volatility could drive prices higher.

Oscillators show bullish momentum. RSI is above 60 with further room to run. MACD and ADX support gains.

Next major hurdle lies at 50.75 (Trendline) ahead of 110-EMA at 52.86 and then cloud top at 54.18. Break above cloud could see test of 23.6% Fib at 61.87.

Major trend is still bearish. Retrace below 55-EMA will see strong support at 21-EMA at 43.21. Retrace below 21-EMA to see bearish resumption.

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