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LTC/USD Medium-term Trend: Bearish
- Resistance Levels: $66, $68, $70
- Support Levels: $30, $28, $26
Yesterday, January 14, the price of Litecoin was in a bearish trend zone. The price of Litecoin fell to its low at $30.16 and the bulls commenced a bullish movement to the 12-day EMA and the 26-day EMA. The bulls were resisted by the 26-day EMA. Today, the crypto’s price is ranging at the price of $33 in the bearish trend zone.
The crypto’s price is likely to fall if resisted by the 26-day EMA. Meanwhile, the stochastic is approaching the overbought region below the 80% range which indicates that the price of Litecoin is in a bullish momentum and a buy signal. The MACD line and the signal line are below the zero line which indicates a sell signal.
LTC/USD Short-term Trend: Bullish
Last week, the 1-hour chart, the price of Litecoin was in a bullish trend zone. Yesterday, as the crypto’s price fell to its low at $ 30.53, the bulls made a bullish movement and broke above the 12-day EMA and the 26-day EMA.
Today, the price of Litecoin is ranging at a price of $33.15. The crypto’s price is likely to rise because it is in the bullish trend zone. Meanwhile, the stochastic is of the overbought region but below the 60 % 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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