LTC/USD Medium-term Trend: Bearish
Resistance Levels: $66, $68, $70
Support Levels: $25, $23, $21
Yesterday, November 26, the price of Litecoin was in a bearish trend. On November 25, the digital currency fell to the low of $28.71, and the price of Litecoin was fluctuating above that level. From its low, the crypto’s price made a bullish movement which was resisted by the 26-day EMA on the 26th of November, 2018. The selling pressure has not allowed the price to remain above the EMAs for its bullish movement.
On November 26, the bears took another selling that compels the crypto to fall in a downward trend. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone. The price of Bitcoin has reached the oversold region of the market. Traders are to look out for buy setups so as to initiate long trades.
LTC/USD Short-term Trend: Ranging
On the 1-hour chart, the crypto’s price is in a bullish trend. On November 25, the crypto’s price was fluctuating above the 12-day EMA and the 26-day EMA. On November 26, the bears had another selling which made the price to break the 12-day EMA and the 26-day EMA and it fell in a downward trend.
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