LTC/USD Long-term Trend: Bearish
Resistance Levels: $60, $70, $80
Support levels: $40, $30, $20
The LTC/USD pair was in a bearish trend in the first two weeks of November 2018. The crypto has an opening balance of $50.13 but price reached a low of $42.80 as at the time of writing. The digital currency faced resistance at the upper price level of $60 but was resisted at $56.86. The price fell and broke the 12-day EMA and the 26-day EMA which resulted in the bearish trend zone.
While in the bearish trend zone, Litecoin had a bearish breakout that made the crypto to fall to the low of $42.80. Price of Litecoin has broken the lower level of price range. The digital currency has also reached the oversold region of the market.
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.