LTC/USD Long-term Trend: Bullish
- Resistance Levels: $60, $70, $80
- Support levels: $40, $30, $20
On January 10, the LTC/USD pair was in the bearish trend zone. The bears broke the 12-day EMA, the 26-day EMA and price fell to the low of $34.01. The crypto's price further depreciated to the low of $30.51 and commenced a range bound movement. The LTC price had been range bound between the levels of $30 and $35 before the price breakout. The 12-day EMA and the 26-day EMA are horizontal indicating the range bound movement. On February 8, the bulls break the EMAs and the resistance level at $35 to reach the bullish trend zone. The crypto's price is likely to rise because it is above the EMAs.
The LTC price is trading at $43.24 as at the time of writing. The crypto is expected to reach the highs of $60 and $65 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 12-day EMA and the 26-day EMA which indicates that the crypto is in the bullish trend zone.
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