2018-12-11 09:39 |
Yesterday, December 10, the price of Litecoin was in a bearish trend. On December 9, the crypto’s price broke the 12-day EMA while in a bullish trend but as the price was resisted at the 26-day EMA, it resulted in a downtrend. The crypto’s price fell to the low of $25.69 and commenced a range bound movement below the EMAs.
As the price ranges, a price breaks out is imminent. However, if the bears break the $24 price level, the price of Litecoin will resume its downtrend. But if the bulls take control of price, they will face resistance at the $26 price level. Meanwhile, the crypto's price is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. Also, the MACD line and the signal line are below the zero line indicating a sell signal.
LTC/USD Short-term Trend: BearishOn the 1-hour chart, the crypto's price is in a bearish trend. Since on December 9, the crypto’s price broke the 12-day EMA and the 26-day EMA and price fell into the bearish trend zone. The 12-day EMA now acted as a resistance to the crypto’s price.
The crypto’s price has not been able to break the EMAs. Meanwhile, the crypto's price is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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