LTC/USD Long-term Trend: Bearish
Resistance Levels: $60, $70, $80
Support levels: $50, $40, $30
The LTC/USD pair had been bearish in the month of October 2018. On October 1, the LTC price has an opening balance of $60.40. The crypto’s price faces resistance at the $60 price level.
On October 9, the price of Litecoin was resisted at the price of $59.99 and it fell to a low of $52.65. On October 15, the price of Litecoin reached the high of $62.06 but pulled back to the low of $55.87. The price continued its fall to the low of $53.26 and commenced a range bound movement up till date.
On the upside, the $60 price level has to be broken for Litecoin to resume its uptrend. 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.