Resistance Levels: $66, $68, $70
Support Levels: $35, $33, $31

Last week the price of Litecoin was fluctuating above the $30 price level. The crypto’s price was fluctuating above the 12-day EMA and the 26-day EMA. On January 4, the crypto’s price broke the 12-day EMA and the 26-day EMA and reached the high of $41.40.

Litecoin faced resistance at the $41 price level and it is retracing and approaching the 12-day EMA and the 26-day EMA. Meanwhile, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone. The stochastic is in the overbought region but below the 80% range indicating that the Litecoin is in a bearish momentum and a sell signal.

On the 1-hour chart, the price of Litecoin is in a bullish trend zone. The crypto’s price retraced and broke the 12-day EMA but the bulls pulled back. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

The crypto’s price is likely to rise as it is above the EMAs. Also, the stochastic is out of the oversold region but above 20 % which indicates that the crypto is in bullish momentum and a buy 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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