LTC/USD Medium-term Trend: Bullish
- Resistance Levels: $66, $68, $70
- Support Levels: $22, $20, $18
Last week the price of Litecoin was in a bearish trend. On December 9, the crypto’s price was trading at a price of $26.85. The crypto fell and broke the 12-day EMA in a downtrend to the low of $23.65. On December 14, the bulls took control of price and broke the 12-day EMA, the 26-day EMA and reached the high of $26.70.
The crypto’s price is now in the bullish trend zone and ranging above the EMAs. The price broke below the 12-day EMA but it is rising again. Meanwhile, the crypto’s price is above the 12-day EMA and the 26-day EMA indicating that price is likely to rise.
Also, the MACD line and the signal line are above the zero line which indicates a buy signal. The Stochastic indicator is in the range below 80% range which indicates that the price of Litecoin has exhausted its bullish momentum and now in bearish trend.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the price of Litecoin was in a bullish trend. On December 14, price broke the 12-day EMA , the 26-day EMA and reached the high of $26.57. The crypto’s price is now fluctuating above that price level. Meanwhile, the price Litecoin is above the 12-day EMA and the 26-day EMA indicating that price is likely to rise. The MACD line and the signal line are below the zero line which indicates a sell signal.
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