LTC/USD Medium-term Trend: Ranging

  • Resistance Levels: $66, $68, $70
  • Support Levels: $22, $20, $18

Yesterday, December 11, the price of Litecoin was in a sideways trend. On December 7, the crypto’s price has been fluctuating above the $23 price level. On the downside, the bears had attempted to break the $23 price level without success.

Also, the crypto’ price was resisted yesterday and the crypto fell to $23.56 and commenced a bullish movement. The crypto’s price may face resistance at the EMAs. 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: Ranging

On the 1-hour chart, the crypto’s price is in a sideways trend. The crypto’s price is still under the bearish trend zone. The price of Litecoin fell to the low of $23.56 and made a bullish movement but was resisted by the 12-day EMA. Today, the bulls made another attempt to break the 26-day EMA but were resisted. The price is now falling towards the bearish trend zone.

Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.

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

(Excerpt) Read more Here | 2018-12-12 06:49:00
Image credit: source

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