LTC/USD
Medium-term Trend: Bullish
·
Resistance Levels: $66, $68, $70
·
Support Levels: $40, $38, $36
Last week, the price of
Litecoin was in a sideways trend. The price of Litecoin was ranging above the
$56 in a range bound movement. The 12-day EMA and the 26-day EMA was trending
horizontally indicating the sideways trend. On March 15, the bulls broke the
EMAs as the price reached a high of $62.26. The bears made a downward
correction to the low of $61.54. Today, the bulls are making another bullish
movement to break the $64 resistance level but has fallen again
On the upside, if the bulls
break the $64 resistance level and price is sustained above it, the price of
Litecoin will reach a high of $70. On the other hand, if the bulls fail to
sustain a price above the $64 price level, the crypto’s price will fall.
Meanwhile, the MACD line and the signal line are above the zero line which
indicates a buy signal. Also, the crypto’s price is below the EMAs which
indicate that price is in the bearish trend zone.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the
price of Litecoin is in the bullish trend zone. The crypto’s price is making a
series of higher highs and higher lows. The LTC price is trading at $62.89 as
at the time of writing. A trend line has been drawn to determine the price
level and the duration of the trend. If price continues to test the trend line
without breaking it, the trend is said to ongoing.
Meanwhile,the trend has been
terminated as price breaks the trend line. Meanwhile, the MACD line and the
signal line are above the zero line which indicates a buy signal. The LTC price
is below the EMAs which indicate that price is in the bearish trend zone.
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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