LTC/USD Long-term Trend: Bearish
Resistance Levels: $60, $70, $80
Support levels: $50, $40, $30
The LTC/USD pair had been bearish in the month of October 2018. The digital currency was range bound between the levels of $50 and $65. At the upper-level, the crypto was resisted at the $64.98 price level. The downward trend continued when price was resisted at the 26-day EMA. On October 29, the lower price range was broken and price fell to the low of $48. In the first week of November, the price of Litecoin is expected to commence its bullish movement.
Though, the digital currency will face resistance at $52 price level . Meanwhile, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.