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LTC / USD medium-term trend: bearish
Strength levels: $ 66, $ 68, $ 70
Support levels: $ 30, $ 28, $ 26
Yesterday, November 19, the price of Litecoin was in a bearish trend. On November 19, a bear candlestick was rejected by the 12-day EMA and the price fell to a low of $ 37.14. Subsequently, the digital currency began a movement linked to the exponential moving averages (EMA).
If the price exceeds the upward EMA, the price of Litecoin is likely to increase. Meanwhile, the MACD line and the signal line are below the zero line indicating a sales 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 digital currency has a downward trend. The price broke the 12-day EMA and was making a bullish movement at the 26-day EMA. However, the 26-day EMA has resisted the price and is in a downward trend. However, if the price level of $ 36.88 is valid, traders should look for purchase configurations and start long exchanges. So a stop loss order should be placed below the support level.
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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