LTC/USD Medium-term Trend: Ranging

  • Resistance Levels: $66, $68, $70
  • Support Levels: $30, $28, $26

Yesterday, January 21, the price of Litecoin was in a bearish trend zone. On January 13, the price of Litecoin had been ranging between the levels of $30 and $34. On January 13, the crypto’s price fell to the low of $30.16 to form the support level. Similarly, On January 19, the bulls break the 12-day EMA, the 26-day EMA and price reached the high of $34  which is the resistance level.

The crypto’s price is trading at the $31 price level. On the downside, if the bears break the $30 price level, the crypto will find support at the $28 price level. On the upside, if the bulls break above the 12-day EMA and the 26-day EMA, the crypto’s price will reach the high of $34 price level. Also, the stochastic is in the oversold region but below the 40 % range which indicates that the crypto is in a  bullish momentum and a buy signal.

LTC/USD Short-term Trend: Ranging

On the 1-hour chart, the price of Litecoin was in a bearish trend zone. On January 20, the crypto’s price fell to the low of $30.79. In the last one week, the price of Litecoin had been trading above the $30 price level.

The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that the LTC price will fall. Traders should look out for buy setups if this level holds. Today, the crypto’s is falling after being resisted by the EMAs.

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 | 2019-01-22 07:09:57
Image credit: source

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