LTC/USD Medium-term Trend: Bearish
Resistance Levels: $66, $68, $70
Support Levels: $40, $38, $36
Yesterday, November 15, the price of Litecoin was in a sideways trend. The crypto’s price fell to the low of $43.59 and commenced a range bound movement. The price of Litecoin is still below the 12-day EMA and the 26-day EMA which means the price is likely to fall. The digital currency was previously range bound between the levels of $50 and $60.
The lower level of price range has been broken which is the $50 price level. Presently, the crypto is in the oversold region of the market. Traders are to look out for buy setups to initiate long trades in anticipation of a bullish trend. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.
LTC/USD Short-term Trend: Ranging
On the 1-hour chart, the digital currency is in a sideways trend. The crypto’s price is neither below nor above the 12-day EMA and the 26-day EMA indicating that price is in the sideways trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.
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