LTC/USD chart - Trading View
Exchange - Coinbase
Support: 86.87 (Lower BB); Resistance: 95.33 (21-EMA)
Technical Analysis: Bias Bearish
Litecoin is extending weakness after the much hyped 'Halving' event earlier this week.
LTC/USD has slipped lower for 2 consecutive days and is likely to extend weakness as indicated by technical studies.
Recovery in the pair has been rejected at session highs at 95.82, finds immediate resistance at 20-DMA at 93.84.
Major and minor trend remain bearish as indicated by GMMA indicator. Stochs and RSI have turned lower.
Resumption of downside will see test of 50% Fib retracement at 84.09 ahead of 200-DMA at 80.96.
5-DMA is immediate resistance at 92.61. Break above 100-DMA at 105.31 required for upside continuation.
