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LTC/USD Medium-term Trend: Bearish
Resistance Levels: $66, $68, $70
Support Levels: $25, $23, $21
Yesterday, December 6, the price of Litecoin was in a bearish trend. Yesterday, the LTC price was making a bullish movement after the previous day's bearish trend. The crypto's price was resisted by the 12-day EMA and it fell to the low of $28.43. Today, the LTC price was resisted again by the 12-day EMA and price is approaching the low of $25.95.
Meanwhile, the price of Litecoin is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the crypto's price is in a bearish trend. On December 6, the bulls pulled back from the bearish trend and broke the 12-day EMA and the 26-day EMA and remained above it. The bears took control of the price and break the EMAs to the downside.
Today, the crypto's price fell when resisted by the 12-day EMA and price is approaching the low of $25.95.Meanwhile, from the 1-hour chart, the crypto's price is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. Also, 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.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.