LTC/USD Long-term Trend: Bearish
Resistance Levels: $60, $65, $70
Support levels: $20, $15, $10
The LTC/USD pair had been in a downtrend since the beginning of December 2017. The 12-day EMA and the 26-day EMA are trending southward and the crypto’s price is trading below the exponential moving averages. The price of Litecoin has fallen to the low of $23.68 as at the time of writing. The crypto has the tendency to fall again according to the indicator. The Stochastic bands have fallen into the oversold region below the 20% range.
This implies that Litecoin has a strong bearish momentum and a sell signal. There will be no trade recommendation until the bearish pressure had been exhausted. Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.
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