LTC/USD Medium-term Trend: Bearish
Resistance Levels: $66, $68, $70
Support Levels: $30, $28, $26
Last week the price of Litecoin was in a bearish trend. On November 14, the crypto’s price was resisted by the 12-day EMA and price fell to the low of $44.06.The crypto’s price broke the lower level of price range which is the $50 price level and commenced a range bound movement.
Today, the crypto’s price was resisted by the 12-day EMA and the bearish trend is continuing. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of Litecoin is below 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the digital currency is in a bearish trend. On November 15, the digital currency fell to the low of $41.05 and pulled back to the high of $43.99. On November 19, the crypto’s fell again when resisted by the 12-day EMA. Price is now testing the previous low of $41 and may likely reverse or continue its downward trend.
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