LTC/USD Medium-term Trend: Bullish
Resistance Levels: $66, $68, $70
Support Levels: $35, $33, $31
Last week the price of Litecoin was in a bullish trend. The crypto’s price broke the $34 price level to continue the bullish movement. Price is approaching the $35 price level but may face resistance at the $0.34 price level. On the upside, if price breaks the $34 price level, the crypto is expected at the $55 price level but a little resistance at $45 price level.
On the downside, if the bulls fail to break the $34 price level, the crypto will find support at $28. 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.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the price of Litecoin was in a bullish trend. The crypto’s price has reached the $36 .99 price level but price was retracing for a possible resumption of a bullish trend. The stochastic indicator is in the overbought region above 80% range which indicates that Litecoin is in a bullish momentum and a buy signal. The MACD line and the signal line are above the zero line which indicates also a buy signal.
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