2018-10-10 10:38 |
Resistance Levels: $66, $68, $70
Support Levels: $50, $48, $46
Yesterday, October 9, the LTCUSD pair was in a bearish trend. As the digital currency falls, it is approaching the lower level of price range. The digital currency is not likely to reach or break the $50 price level. Price is likely to reverse at the $55 price level. If price reaches and reverses at either $50 or $55, then traders should initiate long trades in anticipation of a bullish trend.
If the lower level of price range is broken price will reach the low of $ 47.Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend.
LTC/USD Short-term Trend: BearishOn the 1-hour chart, the LTC price is in a bearish trend. The LTC price is approaching the price at $57 in a downward trend. The price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that price is falling. The Relative Strength Index period 14 is level 33 which indicates that the market is oversold signaling bear’s exhaustion and suggesting bulls to take control of the market.
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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