Yesterday, January 17, the price of Litecoin was in a bearish trend zone. The crypto’s price has been in the bearish trend zone since January 10, 2019. Also, the crypto’s price had been fluctuating above the $30 price level in the same period. Yesterday, the bulls broke the 12-day EMA and the 26-day EMA and reached the $32 price level.

The crypto’s price is retracing back to the bearish trend zone. On the downside, if the crypto’s price is below the EMAs, the crypto’s price will fall or continue its range bound movement. On the upside, if the bulls break above the EMAs, the crypto’s price will rise and reach the previous high of $40. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

On the 1-hour chart, the price of Litecoin was in a bullish trend zone. On January 17, the bulls broke the 12-day EMA ,the 26-day EMA and reached the $32 price level. Presently, the crypto retraced to a range bound movement. Meanwhile, the stochastic is in the oversold region but below the 20 % range which indicates that the crypto is in a strong bearish momentum and 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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