LTC / USD medium-term trend: bearish
Strength levels: $ 66, $ 68, $ 70
Support levels: $ 50, $ 48, $ 46
Yesterday, November 7, the price of Litecoin was in a bearish trend. The price of the crypt reached a maximum of $ 56.43 and was rejected by the bears. The price of Litecoin meets resistance to the higher level of prices of $ 60. The fall in prices led to the break of the 12-day EMA and the 26-day EMA which indicates that the price will continue to decline.
Because the digital currency is between the levels of $ 50 and $ 65, the price will find support at the lower end of the price range. Traders must exit from their long negotiations as the price of the crypt is in the bearish trend zone. Meanwhile, the MACD line and the signal line are above the zero line indicating a purchase signal. In addition, the price of Litecoin is less than 12 days EMA and the 26-day EMA indicating that the price is in the bearish trend zone.
Short-term LTC / USD trend: bearish
In the 1 hour chart, the LTC price is in a downward trend. The price of the crypt is lower than the 12-day EMA and the 26-day EMA indicating the price is in the bearish trend zone. The MACD line and the signal line are below the zero line indicating a purchase signal.
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