LTC/USD
Long-term Trend: Bearish
·
Resistance Levels: $60, $70, $80
·
Support levels: $30, $20, $10
The LTC/USD pair had been in
a smooth downtrend since the beginning of November 2018. On November 1, the
crypto had an opening balance of $50.13 but has depreciated to the low of
$25.25.
The crypto's price is below
the 12-day EMA and the 26-day EMA which is an indication of price falling. The
exponential moving averages are tending southward an indication of a downtrend.
From the Stochastic indicator, the reading is in the range below 20%.
This indicates that the price of Litecoin has a
strong bearish momentum and a sell signal. Since the bearish momentum of
Litecoin is strong, the crypto is likely to fall. 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 BitcoinExhangeGuide.com and do not
constitute financial advice. Always do your own research.
Source: https://bitcoinexchangeguide.com
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