LTC/USD Medium-term Trend: Bearish
Resistance Levels: $66, $68, $70
Support Levels: $50, $48, $46
Yesterday, October 11, the LTCUSD pair was in a bearish trend. The digital currency fell to the lower level of price range. However, if price breaks the $50 price level, Litecoin will find support at $48. On the other hand, if price fails to break the $50 price level, the digital currency will revert back to the upper level of price range.
Traders should look out for buy setups so as to initiate long trades in anticipation of a bullish trend. These long trades should be exited at the upper level of price range. 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 the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, LTC price is in a bullish trend. Litecoin fell to the low the $51.09 and it is making a bullish movement to the upside. The price of Litecoin is above the 12-day EMA and the 26-day EMA which indicates that price is rising.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.