LTC/USD Medium-term Trend: Bearish
Resistance Levels: $66, $68, $70
Support Levels: $30, $28, $26
Yesterday, November 20, the price of Litecoin was in a bearish trend. The crypto’s price no longer follow the bearish pattern of lower lows and lower highs. On November 20, the crypto’s price was in a range bound movement. Later, the price was resisted by the 12-day EMA and it resumed its downward trend.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the crypto’s price is in a bearish trend. On November 20, the price of the digital currency fluctuates below and above the 12-day EMA and the 26-day EMA indicating a sideways trend. Meanwhile, Litecoin is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone. Traders should look out for buy setups and initiate long trades as the price has reached the oversold region. Then a stop loss order should be placed below the support level.
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