LTC/USD Medium-term Trend: Bearish
- Resistance Levels: $66, $68, $70
- Support Levels: $30, $28, $26
Yesterday, January 10, the price of Litecoin was in a bullish trend. The price of Litecoin had been hovering above the 12-day EMA and the 26-day EMA because of its inability to break above the $40 price level. It was earlier assumed that if the bears broke below the EMAs the crypto will find support at $32.
Today the crypto has fallen to the $34 price level and the crypto is likely to fall again because the price is in the bearish trend zone. Meanwhile, the stochastic is in the oversold region but below the 20% range indicating that the price of Litecoin is in a strong bearish momentum and a sell signal. 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 price of Litecoin is in a bearish trend zone. From the chart, the crypto’s price fell to the low of $33 price level and commenced a range bound movement above it. Meanwhile, the stochastic is out of the overbought region but above the 20 % range which indicates that the crypto is in bullish momentum and a buy signal. The MACD line and the signal line are below the zero line which indicates a sell signal.
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