Yesterday, January 22, the price of Litecoin was in a bullish trend zone. The bulls defended the $30 price level as the bears failed to break it. From the bearish trend zone, the bulls broke the 12-day EMA and 26-day EMA to reach the bullish trend zone. Today, the bulls have reached the $32 price level  and are expected to reach the $34 price level.

If the bulls break the $34 price level, the LTC price will be out of the price range of $31 and $34 price levels. Also, the stochastic is in the overbought region but above the 80 % range which indicates that the crypto is in a strong bullish momentum and a buy signal.

On the 1-hour chart, the price of Litecoin was in a bullish trend zone. The 12-day EMA and the 26-day EMA are trending upward indicating that price is likely torise. Traders are to initiate long trades as the $30 price level as the crypto’s price is holding at the support level. Meanwhile, the stochastic is out of the overbought region but below the 60 % range which indicates that the crypto is in a 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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