LTC/USD Medium-term Trend: Bullish
- Resistance Levels: $66, $68, $70
- Support Levels: $30, $28, $26
Yesterday, January 2, the price of Litecoin was in a bullish trend zone. The crypto’s price broke the $32 and $33 price levels to reach the high of $34. Yesterday, the price of Litecoin reached the high of $34.79 but was resisted. The LTC price is retracing from the recent high after the resistance. The price is retracing, probably to resume the bullish trend.
On the other hand, if it retraced and broke below the 12-day EMA and the 26-day EMA, the crypto will commence another downtrend. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The stochastic is out the overbought region but below the 80% range indicating that the LTC is in a bearish momentum and a sell signal.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the price of Litecoin is in a bullish trend. The price of Litecoin is also making a series of higher highs and higher lows. The LTC price reached its high and was resisted at the price of $35. The crypto’s price now retraced to the 12-day EMA and the 26-day EMA now became a support for the LTC price.
A bullish candlestick has risen and closed on the EMA. Also, the bearish candlestick is down and might break the 12-day EMA and the 26-day EMA. Meanwhile, the stochastic is out of the overbought region but above 20 % range which indicates that the crypto is in a bullish momentum.
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