LTC/USD Medium-term Trend: Bearish
- Resistance Levels: $66, $68, $70
- Support Levels: $30, $28, $26
Last week the price of Litecoin was in a bullish trend zone as the crypto’s price reached the high of $33.72. On January 26, the price of Litecoin was resisted as the bears broke the 12-day EMA, the 26-day EMA and price fell to the low of $32.
Today, the crypto’s price was further depreciated to the low of $31. If the bearish trend continues the crypto will find support at the previous low of $28. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy 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. Last week the crypto’s price has been fluctuating below and above the EMAs. On January 26, the crypto’s price was resisted as the bears broke the 12-day EMA and the 26-day EMA. The price of Litecoin fell to the low of $30 as at the time of writing.
Presently, the crypto is on a range bound movement at the $30 price level. Meanwhile, the stochastic is in the oversold region below the 20% range which indicates that Litecoin is in a bearish momentum and 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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