2018-10-4 09:09 |
Resistance Levels: $66, $68, $70
Support Levels: $50, $48, $46
Yesterday, October 3, the price of Litecoin was in a sideways trend. The digital currency was ranging above the price of $57 before embarking on a bullish trend. The price of Litecoin is now ranging between the levels of $50 and $64. Traders ought to have initiated long trades at the current market price so as to earn partial profits at the upper level of price range . The digital currency is presently moving to the upper level of price range though it will be resisted at the $64 price level.
However, if the digital currency is resisted at the upper level of price, then all the long trades should be exited. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The Relative Strength Index period 14 is level 48 which indicates that price is in the sideways trend zone.
LTC/USD Short-term Trend: BullishOn the 1-hour chart, the LTC price is in a bullish trend. The price is Litecoin is above the 12-day EMA and the 26-day EMA which indicates that a bullish trend is ongoing. The MACD line and the signal line are above the zero line which indicates the buy 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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