Yesterday, January 7, the price of Litecoin was in a bullish trend. The crypto’s price was retracing after it faced resistance at the $41 price level. The LTC price has retraced to the support of the 12-day EMA. The 12-day EMA is acting as a support level for the price of Litecoin.

Meanwhile, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that the price is Likely to rise again. The $41 price level may be revisited. The stochastic is out the overbought region but above the 20% range indicating that the price of Litecoin is in a bullish momentum and a buy signal. However, the MACD line and the signal line are above the zero line which indicates a buy signal.

On the 1-hour chart, the price of Litecoin is in a bullish trend zone. The crypto’s price retraced yesterday and broke the 12-day EMA and the 26-day EMA. Today’s the bulls pulled back price above the EMAs. The crypto’s price is likely to rise as it is above the EMAs. The stochastic is out of the oversold region but above the 20 % range 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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