LTC/USD Medium-term Trend: Bullish
- Resistance Levels: $66, $68, $70
- Support Levels: $30, $28, $26
Yesterday, December 19, the price of Litecoin was in a bullish trend. The price reached the high of $31.65 while in a bullish trend but it faced resistance at the price of $32. The resultant effect was that price fell to the 12-day EMA and made a bullish movement.
If price eventually breaks the 12-day EMA and the 26-day EMA, the crypto will be in the bearish trend zone. On the other hand, the crypto’s price has the tendency to rise if the price remains above the EMAs. Meanwhile, the crypto’s price is above the 12-day EMA and the 26-day EMA indicating that price is likely to rise. Also, the MACD line and the signal line are above the zero line which indicates a buy signal.
LTC/USD Short-term Trend: Ranging
On the 1-hour chart, the price of Litecoin was in a bearish trend. Yesterday, the crypto’s price broke the 12-day EMA and the 26-day EMA and it fell to the bearish trend zone. The Stochastic indicator is now in below the 40% range.
It implies that Litecoin has a bearish momentum and a sell signal. Meanwhile, the price Litecoin 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.
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