Yesterday, January 30, the price of Litecoin was in a bullish trend zone. On January 29, the LTC price fell to a low of $30.71. The $30 price level has been holding since January 13, and I hope traders had initiated long trades in anticipation of a bullish trend. On January 29, the bulls broke the 12-day EMA, the 26-day EMA and price reached the bullish trend zone.

The price of Litecoin is trading at the $32 as at the time of writing. The crypto is expected to rise but may face resistance at the $34 price level. Meanwhile, the stochastic is in the overbought region but above 80% range. This indicates that the LTC price is in a strong bullish momentum and a buy signal.Also, the crypto’s price is above the EMAs which indicate that price is in the bullish trend zone.

On the 1-hour chart, the price of Litecoin is in the bullish trend zone. The LTC price is trading and approaching the $34 price level. The crypto’s price has already been resisted and the price is retracing to the 12-day EMA.

The crypto’s price will test the 12-day EMA and resume the bullish trend. Meanwhile, the MACD line and the signal line are above the zero line which indicates 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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