LTC/USD chart - Trading View
Exchange - Coinbase
Support: 56.80 (Mar 20 low); Resistance: 70.73 (20-DMA)
Technical Analysis: Bias Bearish
LTC/USD consolidates previous session's losses, bias remains bearish.
The pair has shown a break below 20-DMA support on Monday's trade.
Price hit 5-month lows at 61.75 before paring some losses to close at 66.47.
'Death Cross' weighs on the upside. Recovery capped at 55-EMA.
Technical indicators support further downside in the pair. Stochs and RSI sharply lower.
MACD on verge of bearish crossover on signal line and ADX support for downtrend seen.
Next major supports align at 56.80 (Mar 20 low), 52.15 (Mar 12 low) and 48.67 (78.6% Fib).
20-DMA is strong resistance at 70.73. Breakout above 55-EMA required for bearish invalidation.
