LTC/USD Medium-term Trend: Bearish
- Resistance Levels: $66, $68, $70
- Support Levels: $30, $28, $26
Yesterday, December 24, the price of Litecoin was in a bullish trend. The crypto’s price reached the high of $37.22 but because of the resistance at $35 price level, the crypto fell to the low of $33.33. Today, the crypto’s price is falling and approaching the $30 price level.
On the downside, if the $30 price level was broken again the crypto’s price will fall to the previous low of $24. Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the price of Litecoin is in a bearish trend. The crypto’s price has broken the 12-day EMA and the 26-day EMA to the downside. The crypto is in the bearish trend zone and has the tendency to further depreciate.
Meanwhile, the stochastic indicator is out of the oversold region above 20% range which indicates that Litecoin is in a bullish momentum and a buy signal. The crypto will continue to be bearish if the stochastic bands remain in the oversold region.
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