LTC/USD
Medium-term Trend: Ranging
·
Resistance Levels: $66, $68, $70
·
Support Levels: $30, $28, $26
Yesterday, December 26, the
price of Litecoin was in a sideways trend. In the last 24 hours, there had been
no significant price movement as price ranges above the $30 price level. The
crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that
price is in the bearish trend zone.
As the crypto ranges above
the $30 price level, there is the likelihood of a price breakout. If the
crypto’s price breaks below the $30 price level, the price of Litecoin will
find support at the $24 price level. On the other hand, if price breaks upward,
the crypto will reach the high of $37. Meanwhile, the stochastic indicator out
of the oversold region above the 20% range which indicates that Litecoin
is in a bullish momentum and a buy signal.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the
price of Litecoin is in a bearish trend. The crypto’s price is below the 12-day
EMA and the 26-day EMA which indicates price is in a bearish trend zone.
The crypto has the tendency to fall. Similarly, the stochastic indicator was
out of the overbought region and it is below the 20% range which indicates that
the crypto is in a bullish momentum and a buy 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.
Source: https://bitcoinexchangeguide.com
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