LTC/USD Long-term Trend: Bearish
• Resistance Levels: $60, $70, $80
• Support levels: $30, $20, $10
The LTC/USD pair had been in a smooth downtrend since the beginning of November 2018. On November 1, the crypto had an opening balance of $50.13 but has depreciated to the low of $25.25.
The crypto’s price is below the 12-day EMA and the 26-day EMA which is an indication of price falling. The exponential moving averages are tending southward an indication of a downtrend. From the Stochastic indicator, the reading is in the range below 20%.
This indicates that the price of Litecoin has a strong bearish momentum and a sell signal. Since the bearish momentum of Litecoin is strong, the crypto is likely to fall. Meanwhile, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal.