Resistance Levels: $66, $68, $70
Support Levels: $55, $53, $51

Last week, October 8, the price of Litecoin was in the resistance zone of $60-$65. Whenever price reaches the $60-$65 price levels, the digital currency will be resisted. The digital currency fell to the low of $50.44 but managed to recover. The $50 price level is the lower level of price range. In the other words, it is the support level where buyers are willing to buy.

The digital currency had been range bound between the levels of $50 and $65. Price is expected to rise to the upper price level. Traders should look out for buy setups so as to initiate long trades. These long trades should be exited at the upper level of price range.
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 above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend.

On the 1-hour chart, LTC price is in a bullish trend. Litecoin fell to the low the $50.83 and it is making a bullish movement to the upper price level. The price of Litecoin is above the 12-day EMA and the 26-day EMA which indicates that price is rising.

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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