LTC / USD long-term trend: bearish
Strength levels: $ 60, $ 70, $ 80
Support levels: $ 30, $ 20, $ 10
The LTC / USD pair had been bearish in the last three weeks of November 2018. On November 1, the price of Litecoin had an initial balance of $ 50.13 but the price depreciated to a minimum of $ 31.88 as at present of writing. On November 14th, the price depreciation was caused by the bearish breakout. A 12-day EMA has resisted a bearish candelabra that has fallen into a downward trend.
The downward trend continues and the price has reached the oversold region of the market. There is no sign that the price retracts because the price is in the downtrend zone. Meanwhile, the price of Litecoin is lower than the 12-day EMA and the 26-day EMA which indicates that a downward trend is under way. The MACD line and the signal line are below the zero line indicating a sales signal.
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