LTC/USD Medium-term Trend: Bearish
- Resistance Levels: $66, $68, $70
- Support Levels: $30, $28, $26
Yesterday, December 27, the price of Litecoin was in a bearish trend. On December 25, the crypto’s price was ranging above the $30 price level before its eventual breakdown. Today, the price of Litecoin has fallen to the low of $28.70 and it is commencing another range bound movement.
Presently, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone. However, from the previous analysis we suggested that if the crypto’s price broke below the $30 price level, the price of Litecoin would find support at the $24 price level.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the price of Litecoin is in a bearish trend. Yesterday, the crypto’s price fell to the $28.70 price level and commenced a range bound movement. The small body candlesticks like the Doji and spinning tops are responsible for the range bound movement.
The sellers and buyers were undecided at that price level. Meanwhile, the stochastic indicator is out of the oversold region but above the 20% range. This implies that Litecoin is in a bullish momentum and a buy signal.
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