LTC/USD Medium-term Trend: Bearish
- Resistance Levels: $66, $68, $70
- Support Levels: $30, $28, $26
Yesterday, February 5, the price of Litecoin was in a bearish trend. The crypto's price has been trading above the EMAs in the last three days. The bulls have made three attempts to break the resistance at $34 price level but without success. Yesterday, the bears broke below the EMAs and brought the price to the low of $33.18.
The price of Litecoin is now within the range-bound levels of $30 and $35. On the downside, if the bearish trend continues, the crypto will find support at $30 price level. Meanwhile, the MACD line and the signal line are below the zero line which indicate a sell signal. Also, the crypto’s price is below the EMAs which indicate that price is in the bearish trend zone.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the price of Litecoin is in the bearish trend zone. Yesterday, the LTC price commenced a bullish movement and reached the high of $34.75 but was resisted. The crypto has fallen to the support level at $33 price level.
If the bearish pressure continues, the crypto will find support at the previous lows of $30 and $31. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.
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