Litecoin (LTC) Daily Price Forecast – January 16th

LTC / USD medium-term trend: bearish

• Strength levels: $ 66, $ 68, $ 70
• Support levels: $ 30, $ 28, $ 26

Yesterday, January 15, the price of Litecoin was in a bearish trend zone. The price of Litecoin had remained under the 12-day EMA and the 26-day EMA for a while, as the price of cryptocurrency fluctuates above the price level of $ 30. Because the price of encryption is lower than 12 days for EMA and 26 days for EMA, the price of Litecoin may decrease.

Today, the price of the crypto is decreasing and likely to break the price level of $ 30. If the $ 30 level is broken, cryptography will find support at the $ 28 level. In the meantime, the stochastic is out of the overbought region but exceeding the 20% interval indicating that the price of Litecoin is in a bullish momentum and a buy signal. The MACD line and the signal line are below the zero line indicating a sales signal.

Short-term LTC / USD trend: bearish

On the 1 hour chart, the price of Litecoin was in a bearish trend zone. On January 15th, the price of the crypto fell to a minimum at $ 31 and began a bullish movement for the 12-day EMA and the 26-day EMA.

The bullish movement was short-lived as the crypt resisted the price of $ 31. In the meantime, the stochastic is outside the oversold region but below the 80% range indicating that the crypt is in a bullish phase and a buy signal.

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