LTC/USD Medium-term Trend: Bearish
- Resistance Levels: $66, $68, $70
- Support Levels: $30, $28, $26
Yesterday, December 25, the price of Litecoin was in a bearish trend. On December 25, the price of Litecoin fell to the low of $30 price level and commenced a range bound movement above that level. The crypto’s price is attempting to break the 12-day EMA and the 26-day EMA to the upside. If it does break the EMAs,the price will be in the bullish trend zone.
In the same vein, the stochastic is out of the oversold region but below 80% range. This implies that the crypto is in a bearish momentum and a sell signal. Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the price of Litecoin is in a bearish trend. The crypto’s price was already in the bearish trend zone but price tested the $33 price level and it was resisted. If the bulls sustain hold above the $30 price level, the crypto would rise and meet up the high of $35 price level. On the other hand, if the crypto’s price breaks below the $30 price level, the crypto will commence his downward trend.
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