LTC/USD Medium-term Trend: Bullish
Resistance Levels: $66, $68, $70
Support Levels: $25, $23, $21
Yesterday, November 28, the price of Litecoin was in a bullish trend. The price of Litecoin is now above the 12-day EMA and the 26-day indicating that price is rising.
The digital currency has broken the $35 price level and it is fluctuating at that level. Nevertheless, if the $35 price level holds traders should initiate long trades above that price level.
Also, a stop loss order should be placed below the $35 price level. Meanwhile, the price of Litecoin is above the 12-day EMA and the 26-day EMA indicating that price is in the bullish trend zone. Also, the MACD line and the signal line are above the zero line which indicates a buy signal.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the crypto’s price is in a bullish trend. The digital currency is making a series of higher highs and higher lows.
Meanwhile, the crypto’s price is above the 12-day EMA and the 26-day EMA indicating that price is in the bullish trend zone. Also, the MACD line and the signal line are above the zero line which indicates a buy signal.
Traders are to ride on the bullish trend as long the uptrend last. They should allow the market to take them out of trading.