Crypto Technicals: LTC/USD capped at daily cloud, trades comatose around 5-DMA, bias neutral

LTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Neutral

GMMA Indicator: Major Trend - Bearish; Minor Trend - Neutral

Overbought/ Oversold Index: On verge of rollover from Overbought

Support: 43.18 (21-EMA); Resistance: 45.87 (55-EMA)

LTC/USD trades comatose around 5-DMA support at 45.16, bias is neutral.

The pair is set to resume weakness after rejection at daily cloud on Wednesday's trade.

Technical indicators are turning slightly bearish. Stochs and RSI have turned. Stochs are on verge of rollover from overbought.

Major trend has been bearish, recovery has likely stalled and short-term moving averages are turning.

The pair has failed to hold break above 55-EMA and finds strong support at 21-EMA. Break below will see resumption of weakness.

Dip till next major support at 39.72 (Trendline) likely. Further weakness will see dip till 88.6% Fib at 36.29.

Decisive breakout at 55-EMA and daily cloud required for upside continuation.

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