LTC/USD Medium-term Trend: Bearish
Resistance Levels: $66, $68, $70
Support Levels: $25, $23, $21
Yesterday, December 4, the price of Litecoin was in a bearish trend. On November 25, the digital currency fell to the low of $28 to commence a range bound movement. Presently, the digital currency fluctuates between the levels of $28 and $36. Price of Litecoin is currently ranging above the $30 price level and it is bearish.
It is likely that the crypto will fall to revisit the previous low of $ 28. Later price will pullback from the low of $28. If the digital currency is in a bullish trend, the price will face resistance at the $36 price level. 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: Bearish
On the 1-hour chart, the crypto’s price is in a bearish trend. The crypto’s price was fluctuating below and above the 12-day EMA and the 26-day EMA. Today, the crypto’s price has been resisted by the 12-day EMA and the crypto is expected to find support at the $28 price level.
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