LTC/USD Long-term Trend: Bearish Resistance Levels: $60, $70, $80 Support levels: $30, $20, $10

In the first week of January, the price of Litecoin was in a bullish trend zone. On January 6, the bulls took price to the high of $40.07. In the second week, the crypto‘s price was in the bearish trend zone as a result of the resistance at the $40 price level. On January 10,  the bears broke the 12-day EMA, the 26-day EMA and price fell to the low of $30.

The crypto’s price is below the EMAs which indicate that the crypto is in the bearish trend zone. If the bearish trend continued, the crypto will revisit a previous low of $23.
Meanwhile, the stochastic indicator is out of the oversold region but below the 80% range indicating that the price of Litecoin is in a bullish momentum and a buy signal. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell 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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