LTC/USD Medium-term Trend: Bearish Resistance Levels: $66, $68, $70 Support Levels: $30, $28, $26

Yesterday, January 29, the price of Litecoin was in a bearish trend zone. The LTC price seems to have found support at the $30 price level. On January 28, the crypto fell to the low of $30.89. On January 29, the crypto fell to the low of $30.71 and commenced a bullish movement to the EMAs. Each time the crypto made a bullish movement to the EMAs, it will be resisted by the 12-day EMA. The $30 price level had been holding since January 13, traders may wish to initiate long trades at the price of $30 and exit near the $34 price level.

This can be done as long as the crypto ranges between the levels of $30 and $34 . On the downside, if the bears break the $30 price level, the crypto will find support at the $28 price level. 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 bullish trend zone. On January 29, the crypto fell to the $30 price level and made a bullish movement above the EMA. The crypto’s price was ranging in the bullish trend zone and has been sustained above the EMAs.

Meanwhile, the stochastic is out of the overbought region but below the 60% range which indicates that Litecoin is in a bullish momentum and a buy signal. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.

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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