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LTC/USD Medium-term Trend: Bearish
Resistance Levels: $66, $68, $70
Support Levels: $22, $20, $18
Yesterday, December 13, the price of Litecoin was in a bearish trend. Yesterday, the crypto's price fell to the low of $24.10 and commenced a bullish movement to the exponential moving averages. At a price of $24.52 the crypto was resisted by the 12-day EMA and it fell to $23.49, the previous low of the price of Litecoin.
The cryptocurrency is ranging above the $23 price level. There will be no trade recommendation as the price is still in the bearish trend zone. Meanwhile, the crypto's price is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. 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. The 12-day EMA and the 26-day EMA were horizontally flat. Also, the price of Litecoin was ranging above the $24 price level when the crypto's price broke the 12-day EMA and the 26-day to the downside.
The crypto's price fell to the low of $23.39 and commenced a range bound movement. This was the previous support level of Litecoin which has been tested since December 7. Meanwhile, the price Litecoin is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. 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.