Crypto Technicals: LTC/USD near-term bias turns bearish, test of fresh multi-month lows likely

Crypto Technicals: LTC/USD near-term bias turns bearish, test of fresh multi-month lows likely

LTC/USD chart – Trading View

Exchange – Coinbase

Support: 42.00 (Trendline); Resistance: 46.77 (5-DMA)

Technical Analysis: Bias bearish

Litecoin has been on a downward spiral since June 2019 and the pair still remains in a strong bear grip.

The pair has faded recovery attempts and has resumed weakness, scope for test of fresh multi-month lows.

LTC/USD was trading at 44.81, down 1.73% at 10:55 GMT after closing 4.06% lower in the previous session.

Major trend has been bearish. Technical indicators support weakness. Near-term trend also has turned bearish.

Next bear target lies at 42.00 (Trendline). Break below will see dip till 88.6% Fib at 36.29.

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