Price analysis Litecoin (LTC) – 8 January

Litecoin chart according to Trading View

LTCUSD Medium-term trend: bullish

• Strength levels: $ 60, $ 65, $ 70
• Support levels: $ 35, $ ​​30, $ 25

Yesterday, 7 January, the price of Litecoin was in an uptrend. The cryptocurrency was in an uptrend zone since December 18, trading above the price level of $ 30. On January 4, the price of the crypt is making a series of higher highs and higher lows. In an uptrend, this movement is seen on a bullish trend line.

The trendline is designed to determine the duration of the uptrend. An uptrend is ongoing when the price moves on the trend line without breaking it. On the other hand, if the price breaks the trend line and the next candle is closed on the contrary, the current trend will end. The bottom line is that the price of the crypt has not been able to break the resistance at a level of $ 40.

If the bulls break the $ 40 level, the crypt will reach a maximum of $ 49 and $ 56. The stochastic indicator is in the overbought region above the 80% range, which indicates that the price of Litecoin is a bullish momentum and a buy signal.

LTCUSD Short-term trend: bullish Litecoin chart according to Trading View

On the 4-chart, the price of Litecoin is in an uptrend. The price of the crypt is in trend over the 12-day EMA. The price of Litecoin is likely to rise as the price is in the uptrend zone. However, on 6 and January 8, the price of the crypt is having difficulty breaking the resistance at $ 40.

However, the stochastic indicator is approaching the 80% range, indicating that the price of Litecoin is in a bullish momentum and a buy signal.

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