Crypto Technicals: LTC/USD poised for minor correction, major trend remains strongly bullish

LTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Bullish

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

Overbought/ Oversold Index: Overbought

Volatility: High

Support: 72.50 (200H MA); Resistance: 75.07 (5-DMA)

LTC/USD has paused upside with a Doji formation on the previous session's candle.

The pair was trading 5.87% lower on the day at 72.53 at around 09:30 GMT, bias turning slightly bearish.

Oscillators are at oversold levels and on verge of rollover into neutral. Price action has slipped below 5-DMA support.

200H MA is strong support at 72.50. Break below will see dip till 67.00 (21-EMA). Bullish invalidation only below 200-DMA.

On the flipside, resumption of upside will see major resistance at weekly cloud at 84.09.

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