Litecoin (LTC) Price Analysis – December 4

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Litecoin (LTC) Price Analysis – December 4

litecoin-ltc-price-analysis-december-4

  • Litecoin’s price is likely going to rise if the it breaks through the EMAs, and remains above them.
  • The crypto’s price is in the bearish trend zone and in the short and medium term.

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

LTCUSD Medium-term Trend: Ranging

Resistance Levels: $65, $67, $69

Support Levels: $30, $28, $26      

Litecoin’s price has been in a sideways trend for the last week. On November 24, the cryptocurrency’s price fell to a $29 low and entered a range-bound movement. It has since then been fluctuating above the $29 level.

LTC is currently below its 12 and 26-day EMAs, which shows the price is likely to keep on falling. Additionally, the Stochastics is at range 40, indicating bullish momentum and a buy signal. If the price breaks through the EMAs, it’s likely to keep on rising.

On the other hand, if the crypto’s price is resisted by the EMAs, it will continue its range-bound movement.

 LTCUSD Short-term Trend: Ranging     

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

On the short-term trend, price of Litecoin is in a sideways trend. On December 3, it fell to a low of $30 and started a bullish movement. Litecoin’s price is below the EMAs which indicates that it is in a bearish trend.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.