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LTC / USD medium-term trend: bearish
Strength levels: $ 66, $ 68, $ 70
Support levels: $ 30, $ 28, $ 26
On November 24th, the price of Litecoin was in a bearish trend. Last week the downward trend dropped to a low of $ 28.71 and reached the range limit. The encrypted price was floating above and below the 12-day EMA and the 26-day EMA. On December 1, the bulls made a bullish movement above the exponential moving averages.
If the price is sustained above the EMA, the crypt is likely to increase. However, the price of the crypt broke the EMA and resumed its downward trend. Meanwhile, the price of Litecoin is lower than the 12-day EMA and the 26-day EMA indicates that the price is in the bearish trend zone. Furthermore, the MACD line and the signal line are above the zero line indicating a purchase signal.
Short-term LTC / USD trend: bearish
In the 1 hour chart, the price of the crypt is in a downward trend. Last week the 12-day EMA and the 26-day EMA are horizontally flat, indicating that the price was in a sideways trend. Meanwhile, the price of the crypt is lower than the 12-day EMA and the 26-day EMA indicates that the price is likely to decline. Furthermore, the MACD line and the signal line are below the zero line indicating a sales signal.
The opinions and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your research.
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