LTC / USD medium-term trend: bearish
Strength levels: $ 66, $ 68, $ 70
Support levels: $ 30, $ 28, $ 26
Yesterday, November 20, the price of Litecoin was in a bearish trend. The price of the crypt no longer follows the bearish pattern of the lower and lower highs. On November 20, the price of the crypt was in a movement related to the interval. Subsequently, the price was countered by the 12-day EMA and resumed its downward trend.
Meanwhile, the MACD line and the signal line are below the zero line indicating a sales signal. In addition, the price of Litecoin is lower than the 12-day EMA and the 26-day EMA which indicates that the price is in the bearish trend zone.
Short-term LTC / USD trend: bearish
In the 1 hour chart, the price of the crypt is in a downward trend. On November 20, the price of the digital currency fluctuates below and above the 12-day EMA and the 26-day EMA indicating a lateral trend. Meanwhile, Litecoin is under the 12-day EMA and the 26-day EMA indicating that the price is in the bearish trend zone. Traders should look for purchase configurations and start long exchanges since the price has reached the oversold region. So a stop loss order should be placed below the support level.
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