Resistance Levels: $66, $68, $70
Support Levels: $30, $28, $26

Yesterday, November 19, the price of Litecoin was in a bearish trend. On November 19, a bearish candlestick was resisted by the 12-day EMA and price fell to the low of $37.14 . Later the digital currency  commenced a range bound movement towards the exponential moving averages (EMAs).

If price breaks through the EMAs to the upside, the price of Litecoin is likely to rise. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of Litecoin is below 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.

On the 1-hour chart, the digital currency is in a bearish trend. The price has broken the 12-day EMA and was making a bullish movement to the 26 –day EMA. However, the 26-day EMA has resisted the price and it is in a downward trend. However, if the $36.88 price level holds, traders should look out for buy setups and initiate long trades. Then a stop loss order should be placed below the support level.

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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