LTC / USD medium-term trend: bearish
- Strength levels: $ 66, $ 68, $ 70
- Support levels: $ 30, $ 28, $ 26
Last week, Litecoin's price was in a bearish trend zone. On 10 November the bears broke the 12-day EMA, the 26-day EMA and the price fell to a minimum of $ 34.03. On December 13th, the price of the crypt dropped back to a minimum of $ 30.16 to start a movement related to the interval.
After the movement linked to the range, the price of Litecoin could probably fall to the previous low of 27 December. Meanwhile, the stochastic is approaching the oversold region below the 20% range, indicating that the price of Litecoin will be in a strong downward impulse and a sell signal. The MACD line and the signal line are below the zero line indicating a sales signal.
Short-term LTC / USD trend: bearish
Last week, on the 1 hour chart, the price of Litecoin was in a bearish trend zone. On December 13, the bulls reached a maximum of $ 33.44 and the price of the crypto was rejected. There was a price retracement and the bears broke the 12-day EMA and the 26-day EMA at a low of $ 32.74.
While in the bearish trend zone the price tested the 12-day EMA and lowered to a low of $ 30.53 to start a bullish movement. Meanwhile, the stochastic is outside the oversold region but above the 80% range, indicating that the crypt has a strong upward momentum and a buy signal.
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