Crypto Technicals: LTC/USD trims losses, finds minor support at 5-DMA (54.60)

LTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Bullish

GMMA Indicator: Major Trend - Turning slightly bullish; Minor Trend - Bullish

Overbought/ Oversold Index: Overbought

Volatility: High

Support: 54.60 (5-DMA); Resistance: 61.87 (23.6% Fib)

LTC/USD was trading 4.42% lower at 55.55 at around 10:15 GMT, bias remains bullish.

The pair has edged slightly higher from session lows at 54.72 as the pair finds support at 5-DMA.

Upside in the pair pauses shy of 23.6% Fib at 61.87, overbought oscillators add bearish pressure.

RSI was on verge of rollover from overbought levels and Stochs were still at overbought.

Break below 5-DMA support will see dip till 110-EMA at 52.74. Breach at 110-EMA negates bullish bias.

On the upside, 23.6% Fib is immediate resistance at 61.87. 200-DMA is major resistance at 65.74, break above to propel the pair higher.

TokenPost | [email protected]