LTC/USD Medium-term Trend: Ranging

  • Resistance Levels: $66, $68, $70
  • Support Levels: $35, $33, $31

Yesterday, January 9, the price of Litecoin was in a bullish trend. The price of Litecoin fell to the 26-day EMA after failing to break the resistance at $40. In the past five days, the crypto’s price has been trading below the $40 price level. Yesterday, the bears broke the 12-day EMA and price fell to the $39 price level.

Today, the bulls are making another attempt at the resistance level. On the upside, the crypto will reach the highs of $56 and $63 if the bulls break the $40 price level. On the other hand, if the bears break below the EMAs the crypto will find support at $32. Meanwhile, the stochastic is out the overbought region but below the 20% range indicating that the price of Litecoin is in a bullish momentum and a buy signal.

LTC/USD Short-term Trend: Bearish

On the 1-hour chart, the price of Litecoin is in a bearish trend zone. Yesterday, the crypto fell to the low of $39.22. Today, the crypto is making an attempt to break above the 12-day EMA and the 26-day EMA in order to be in the bullish trend zone. Meanwhile, the stochastic is out of the overbought region but below the 20 % range which indicates that the crypto is in bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

Original Article

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