Yesterday, January 28, the price of Litecoin was in a bearish trend zone. The LTC price fell to the low of $30 and commenced a bullish movement to the EMAs. The $30 price level is the previous low of January 13. Presently, the 12-day EMA has resisted the bearish candlestick which might likely fall. On the downside, it was earlier suggested that if the bearish pressure continued, the crypto might fall to the low of $28.

On the upside, if the $30 price level is holding the bulls will attempt to break the 12-day EMA, the 26-day EMA and resume its bullish movement. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the crypto’s price is below the EMAs which indicate that price is in the bearish trend zone.

On the 1-hour chart, the price of Litecoin is in the bearish trend zone. On January 27 and 28, the bears broke the 12-day EMA and the 26-day EMA as the crypto’s price fell to the low of $30. The bulls are making a bullish movement and attempting to break the EMAs. In the meantime, 26-day EMA is resisting the bullish movement.

Meanwhile, the stochastic is out of the oversold region but below the 40% range which indicates that Litecoin is in a bearish momentum and a sell signal. Also, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

152 +