LTC/USD Medium-term Trend: Bullish
- Resistance Levels: $66, $68, $70
- Support Levels: $30, $28, $26
Yesterday, December 20, the price of Litecoin was in a bullish trend. The crypto’s price is above the EMAs and it is trending on the 12-day EMA as a support. The crypto’s price is approaching the $32 price level but may face resistance at the $34 price level.
On the downside, if the bulls fail to break the $34 price level, the crypto will fall to the low of $28. 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: Bearish
On the 1-hour chart, the price of Litecoin was in a bearish trend. A trend line is drawn to determine the duration of the trend. A bullish trend is ongoing when price makes a series of higher highs and higher lows on the trend line.
However, if price breaks the trend line and the following candlestick closed on the opposite of the trend line; the current trend is said to be terminated. At the lower timeframe, the bullish trend is terminated. The MACD line and the signal line are above the zero line which indicates a buy signal.
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