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LTC/USD Medium-term Trend: Ranging
- Resistance Levels: $66, $68, $70
- Support Levels: $35, $33, $31
Yesterday, January 9, the price of Litecoin was in a bullish trend. The price of Litecoin fell to the 26-day EMA after failing to break the resistance at $40. In the past five days, the crypto’s price has been trading below the $40 price level. Yesterday, the bears broke the 12-day EMA and price fell to the $39 price level.
Today, the bulls are making another attempt at the resistance level. On the upside, the crypto will reach the highs of $56 and $63 if the bulls break the $40 price level. On the other hand, if the bears break below the EMAs the crypto will find support at $32. Meanwhile, the stochastic is out the overbought region but below the 20% range indicating that the price of Litecoin is in a bullish momentum and a buy signal.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the price of Litecoin is in a bearish trend zone. Yesterday, the crypto fell to the low of $39.22. Today, the crypto is making an attempt to break above the 12-day EMA and the 26-day EMA in order to be in the bullish trend zone. Meanwhile, the stochastic is out of the overbought region but below the 20 % 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.
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.