LTC/USD Medium-term Trend: Bearish
Resistance Levels: $66, $68, $70
Support Levels: $25, $23, $21
Yesterday, December 5, the price of Litecoin was in a bearish trend. Yesterday, the bearish trend came after the resistance by 12-day EMA. The crypto’s price fell to the low of $29.58 and commenced a range bound movement. Presently, the digital currency ranges between the levels of $28 and $36 and price have reached the lower level of price range.
If the price reaches a low of $ 28, it is expected to range back to the upper price level of $36. However, if the bears decide to break the $28 price level or the lower price range, then Litecoin will depreciate further. Meanwhile, the price of Litecoin is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the crypto’s price is in a bearish trend. On December 5, the digital currency fell to the low of $29.26 and commenced a range bound movement. On December 6, the crypto’s price fall is ongoing. The crypto’s price is still below the EMAs which will result in the fall of the digital currency.
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