LTC/USD Long-term Trend: Bearish
Resistance Levels: $60, $70, $80
Support levels: $30, $20, $10
The LTC/USD pair had been bearish in the last three weeks of November 2018. On November 1, the price of Litecoin had an opening balance of $50.13 but the price has depreciated to the low of $31.88 as at the time of writing. On November 14, the price depreciation was caused by the bearish breakout. A 12-day EMA resisted a bearish candlestick that fell in a downward trend.
The bearish trend is continuing and the price has reached the oversold region of the market. There is no sign of price pulling back as the price is within the bearish trend zone. Meanwhile, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal.
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