Crypto Technicals: Litecoin hits 21-week lows below $65, further weakness on charts
LTC/USD chart – Trading View
Exchange – Coinbase
Support: 57.06 (Mar 26 low); Resistance: 69.47 (61.8% Fib)
Technical Analysis: Bias Bearish
Litecoin hits 21-week lows below $65, bias strongly bearish.
LTC/USD is extending weakness below 200-DMA, price action slips below 61.8% Fib.
Major trend in the pair is bearish. Volatility is rising. Momentum with the bears.
Potential ‘Death Cross’ (bearish 50-DMA crossover on 200-DMA) keeps downside pressure.
The pair has broken major support at 110W EMA at 71.52. Scope for test of 78.6% Fib at 48.67.
Failure to close below 110W EMA could see some consolidation. Break above 200-DMA (85.40) negates bearish bias.
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