LTC/USD
Medium-term Trend: Bearish
Resistance Levels: $66, $68,
$70
Support Levels: $50, $48, $46
Support Levels: $50, $48, $46
Yesterday, November 7, the
price of Litecoin was in a bearish trend. The crypto’s price reached the high
of $56.43 and was resisted by the bears. The price of Litecoin faces resistance
at the upper price level of $60. The price fall has resulted in the breaking of
the 12-day EMA and the 26-day EMA indicating that price is likely to continue
its fall.
As the digital currency is
range bound between the levels of $50 and $65, the price will find support at
the lower level of price range. Traders are to exit their long trades as the
crypto’s price is in the bearish trend zone.
Meanwhile, the MACD line and the
signal line are above the zero line which indicates a buy signal. In addition,
the price of Litecoin is below 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 below the 12-day EMA and the
26-day EMA indicating price is in the bearish trend zone. The MACD line and the
signal line are below the zero line which indicates a buy signal.
The views and opinions
expressed here do not reflect that of BitcoinExhangeGuide.com and do not
constitute financial advice. Always do your own research.
Source: https://bitcoinexchangeguide.com
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