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.

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 | 2018-11-19 16:25:46
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