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 bearish trend zone. On November 10, the bears broke the 12-day EMA , the 26-day EMA and price fell to the low of $34.03. On December 13, the crypto’s price fell again to the low of $30.16 to commence a range bound movement.
After the range bound movement, the price of Litecoin may likely fall to the previous low of December 27. Meanwhile, the stochastic is approaching the oversold region below the 20% range which indicates that the price of Litecoin will be in a strong bearish momentum and a sell signal. The MACD line and the signal line are below the zero line which indicates a sell signal.
LTC/USD Short-term Trend: Bearish
Last week, on the 1-hour chart, the price of Litecoin was in a bearish trend zone. On December 13, the bulls reached the high of $33.44 and the crypto’s price was resisted. There was price retracement and bears broke the 12-day EMA and the 26-day EMA to the low of $32.74.
While in the bearish trend zone the price tested the 12-day EMA and fell to the low of $30.53 to commence a bullish movement. Meanwhile, the stochastic is out of the oversold region but above the 80 % range which indicates that the crypto is in a strong bullish momentum and a buy signal.
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