Crypto Technicals: LTC/USD extends gains for the 4th consecutive session, 200-DMA breakout to aid bullish momentum

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Crypto Technicals: LTC/USD extends gains for the 4th consecutive session, 200-DMA breakout to aid bullish momentum

LTC/USD chart – Trading View

Exchange – Coinbase

Technical Analysis: Bias Bullish

GMMA Indicator: Major Trend – Bullish; Minor Trend – Bullish

Overbought/ Oversold Index: Neutral

Volatility: Shrinking

Support: 57.90 (5-DMA); Resistance: 61.99 (200-DMA)

LTC/USD is extending gains for the 4th consecutive session, bias strongly bullish.

The pair was trading 0.86% higher on the day at 61.20, slightly below session highs at 62.40.

200-DMA is major resistance at 61.99 and decisive breakout above will buoy bulls.

Technical studies are bullish, major and minor trend as evidenced by GMMA are bullish.

MACD is well in the positive territory and price action is above cloud and major moving averages.

Break above 200-DMA will see next major hurdle at 66.22 (55W EMA) ahead of 38.2% Fib at 77.95.

21-EMA is strong support at 55.03. Rejection at 200-DMA and retrace below 21-EMA will see near-term weakness.

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