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Medium-term LTC / USD trend: bullish
- Strength levels: $ 66, $ 68, $ 70
- Support levels: $ 30, $ 28, $ 26
Yesterday, December 20, the price of Litecoin was in an uptrend. The price of encryption is higher than the EMA and is trending on the 12-day ETMA as support. The price of the crypt is nearing the price level of $ 32, but it may be facing a resistance level of $ 34.
On the downside, if the bulls fail to break the price level of $ 34, the crypto will fall to a minimum of $ 28. Meanwhile, the price of the crypto is higher than the 12-day EMA and the 26-day EMA indicates that the price is likely to go up. Furthermore, the MACD line and the signal line are above the zero line indicating a purchase signal.
Short-term LTC / USD trend: bearish
On the 1 hour chart, the price of Litecoin was in a downward trend. A trendline is drawn to determine the duration of the trend. An uptrend is underway when the price makes a series of higher highs and lower lows on the trend line.
However, if the price breaks the trendline and the next candle closes on the opposite side of the trend line; the current trend would have ended. In the lower period of time, the upward trend has ended. The MACD line and the signal line are above the zero line indicating a purchase 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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