LTC/USD Medium-term Trend: Bullish
- Resistance Levels: $66, $68, $70
- Support Levels: $40, $38, $36
Yesterday, February 11, the price of Litecoin was ranging above the $44 price level. The crypto’s price retraced and broke below the 12-day EMA. But the 26-day EMA provided support for the bullish trend. Today, the bulls are attempting to break above the EMAs.
On the upside, if the bulls sustain a price above the EMAs, the crypto’s price will reach a high of $50 but may face resistance at the $48 price level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is above the EMAs which indicate that price is in the bullish trend zone.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the price of Litecoin is in the bearish trend zone. On February 11, the crypto’s price fell to the low of $43.39 and commenced a range bound movement. The bulls are attempting to break the EMAs to reach the bullish trend zone.
If the bulls overcome the EMAs, the crypto’s price will rise and retest the $48 price level. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, 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.
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