LTC/USD Medium-term Trend: Ranging
Resistance Levels: $66, $68, $70
Support Levels: $48, $46, $44
Yesterday, October 30, the price of Litecoin was in a bearish trend. As the crypto’s price fell to the low of $48.84, price of Litecoin was fluctuating above that level. A bullish candlestick is approaching the 12-day EMA, and price makes a bullish movement out of the oversold region. Price is likely to break the lower price range to the upside as the digital currency makes a bullish movement.
Traders should suspend long trades until the price is above the exponential moving averages. 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 zone.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, LTC price is in a bearish trend. The crypto’s price is in a bearish trend as price is now below the 12-day EMA and the 26-day EMA indicating a sell signal.The MACD line and the signal line are below the zero line which indicates a sell signal.
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