LTC/USD Medium-term Trend: Ranging
- Resistance Levels: $66, $68, $70
- Support Levels: $30, $28, $26
Last week the price of Litecoin was in a bearish trend. On December 29, the crypto’s price fell to the low of $31.90. The 26-day EMA acted as a support level as price began to fluctuate above it. Today, the crypto’s price is breaking the 12-day EMA and the 26-day EMA to the downside as price is likely to resume the downward trend. If the crypto’s price breaks below the EMAs and the $30 price level, the crypto’s price will fall to the previous low of $28 price level. The stochastic is in out of the oversold region but above 20% range indicating Litecoin is in a bullish momentum.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the price of Litecoin is in a bearish trend. Last week the price of Litecoin was fluctuating below and above the 12-day EMA and the 26-day EMA indicating a sideways trend. Today, the bears have broken the 12-day EMA and the 26-day EMA and price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.
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