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Litecoin (LTC) Daily Price Forecast – November 22

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LTC/USD Medium-term Trend: Ranging

Resistance Levels: $66, $68, $70
Support Levels: $30, $28, $26

Yesterday, November 21, the price of Litecoin was in a sideways trend. The digital currency fell to the low of $33.36 and commenced a range bound movement at the same price level. The crypto’s price no longer follows the bearish pattern of lower lows and lower highs.

Price was ranging at the $33 price level in the last three days. The crypto’s price has broken the 12-day EMA and it is in a bullish movement. 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.

LTC/USD Short-term Trend: Bullish

On the 1-hour chart, the crypto’s price is in a bullish trend. On November 21, the price of Litecoin fell to the low of $33.55 and commenced a bullish movement. The digital currency is above the 12-day EMA and the 26-day EMA indicating price is in the bullish trend zone.

The MACD line and the signal line are above the zero line which indicates a buy signal. Traders should look out for buy setups and initiate long trades in anticipation of the bullish trend. Then a stop loss order should be placed below the support level.

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

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