Crypto Technicals: LTC/USD extends sideways above 61.8% Fib, potential ‘Death Cross’ keeps downside pressure
LTC/USD chart – Trading View
Exchange – Coinbase
Support: 69.47 (61.8% Fib); Resistance: 78.16 (21-EMA)
Technical Analysis: Bias Neutral to Slightly Bearish
LTC/USD extends sideways grind above 61.8% Fib, major trend remains bearish.
The pair has been trading extremely rangebound at 72.43, down 0.47% at 07:15 GMT.
Major trend in the pair is bearish. Momentum studies support bearish bias.
Potential ‘Death Cross’ (bearish 50-DMA crossover on 200-DMA) keeps downside pressure.
The pair finds strong support at 110W EMA at 71.52. Break below will see resumption of downside.
Immediate support lies at 61.8% Fib at 69.47 ahead of 64.86 (Apr 29 low).
On the flipside 21-EMA is strong resistance at 78.15. Break above 200-DMA (85.34) negates near-term bearish bias.
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