LTC/USD Medium-term Trend: Bearish
Resistance Levels: $66, $68, $70
Support Levels: $25, $23, $21
Yesterday, December 3, the price of Litecoin was in a bearish trend. The digital currency was in the bullish trend zone when the crypto’s price broke the 12-day EMA , the 26-day EMA and resumed its downward trend. If the downward trend continued, the digital currency will find support at $28 price level.
On the other hand, if the bulls are in control of price, the digital currency will face resistance at the price of $34. Meanwhile, the price of Litecoin is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.
LTC/USD Short-term Trend: Ranging
On the 1-hour chart, the crypto’s price is in a sideways trend. The crypto’s price fell the low of $30 and price is fluctuating above the $30 price level. The crypto’s price is testing the 12-day EMA; if the crypto’s price is resisted, Litecoin will continue its downward trend. On the other hand, if the crypto’s price breaks the EMAs, the digital currency is likely to rise.
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