2018-10-16 11:24 |
Resistance Levels: $66, $68, $70
Support Levels: $50, $52, $49
Yesterday, October 15, the price of Litecoin had a price rally and the crypto's price reached the high of $62 but was repelled. However, price pulled back to the low of $56.54. The price of Litecoin had not been able to resume its uptrend because of the resistance zone of $60-$65 price levels. The bulls had been contesting this levels to break upward for about two months. Price of the digital currency is now fluctuating above the $50 price level.
Today the cryptocurrency is likely to be in a range bound movement above the $50 price level. 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 zone.
LTC/USD Short-term Trend: RangingOn the 1-hour chart, LTC price is in a sideways trend. The crypto's price is ranging above the $54 price level. The price of Litecoin is neither above nor below the 12-day EMA and the 26-day EMA which indicates that price is in the sideways trend zone.
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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