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LTC/USD Medium-term Trend: Bullish
- Resistance Levels: $66, $68, $70
- Support Levels: $30, $28, $26
Yesterday, January 8, the price of Litecoin was in a bullish trend. The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that the price of Litecoin is likely to rise. The crypto’s price is ranging below the $40 price level. The bulls have not been able to break above the $40 price level.
If the bulls break the $40 price level, the crypto will reach the highs of $56 and $63. On the other hand, if the bears break below the EMAs the crypto will find support at the $32 price level. Meanwhile, the stochastic is out of the overbought region but below the 80% range indicating that the price of Litecoin is in a bearish momentum and a sell signal. However, the MACD line and the signal line are above the zero line which indicates a buy signal.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the price of Litecoin is in a bullish trend zone. The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise. Today, a bulls have broken above the 12-day EMA and have reached the $40 price level. The stochastic is out of the overbought region but above the 80 % range which indicates that the crypto is in bearish momentum and 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.
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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.