LTC / USD medium-term trend: bearish
- Strength levels: $ 66, $ 68, $ 70
- Support levels: $ 30, $ 28, $ 26
Yesterday, December 27, the price of Litecoin was in a bearish trend. On December 25, the price of the crypt exceeded the price level of $ 30 before it was depleted. Today, the price of Litecoin has dropped to a low of $ 28.70 and another movement linked to the range is starting.
Currently, the price of the crypto is lower than the 12-day EMA and the 26-day EMA which indicates that the price is in the bearish trend zone. However, from the previous analysis we suggested that if the price of the crypt broke below the price level of $ 30, the price of Litecoin would have found support at the price level of $ 24.
Short-term LTC / USD trend: bearish
In the 1 hour chart, the price of Litecoin is in a downward trend. Yesterday, the price of the crypto dropped to $ 28.70 and began a movement with a range of action. Small body candlesticks such as Doji and spins are responsible for moving the beam of action.
Sellers and buyers were undecided at that price level. In the meantime, the stochastic indicator is outside the oversold region but above the 20% range. This implies that Litecoin is in a bullish momentum and a buy signal.
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