LTC/USD Medium-term Trend: Bullish
- Resistance Levels: $66, $68, $70
- Support Levels: $30, $28, $26
Yesterday, February 4, the price of Litecoin was in a bullish trend. The crypto’s price reached the high of $34 but the bulls could not break the resistance level. This has been the scenario since January 13. The bulls have also failed to break the resistance level at $34 on January 19, 20, 26 and February 2, 2019. The cryptocurrency is ranging between the levels of $30 and $35.
However, on the upside, if the bulls break the resistance at $34, the crypto will reach the high of $40. On the downside, if price falls and the EMAs are broken, the crypto will find support at the $30 price level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is above the EMAs which indicate that price is in the bullish trend zone.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the price of Litecoin is in the bullish trend zone. The crypto’s price is fluctuating above the 12-day EMA and the 26-day EMA while in a bullish trend. Yesterday, the price reached the high of $34.67 but was resisted.
The crypto’s price fell to the support at the 26-day EMA where it commenced another bullish movement to test the resistance level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.
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