LTC / USD long-term trend: bearish
- Strength levels: $ 60, $ 70, $ 80
- Support levels: $ 30, $ 20, $ 10
The price of Litecoin was in an uptrend since December 16, 2018. On January 1, the opening price of the crypt had risen to a maximum of $ 30.99. On January 8, the price of the crypt had reached the maximum of $ 40 but the bulls could not break resistance at that level. On 10 January, the bears broke the 12-day EMA and the 26-day EMA at the minimum level of $ 33.
However, from the weekly chart or daily chart, the price of the crypto is lower than the 12-day EMA and the 26-day EMA which indicates that the price is likely to fall. If the bearish pressure continues, the crypt will fall to the minimum of $ 30. However, if the bears exceed this level, the crypto will find support at the $ 23 or $ 28 price level.
Meanwhile, the MACD line and the signal line are below the zero line indicating a sales signal. The stochastic indicator is outside the oversold region but above the 60% range indicates that the price of Litecoin is in a bullish momentum and a buy signal.
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