LTC/USD Medium-term Trend: Bullish
• Resistance Levels: $66, $68, $70
• Support Levels: $40, $38, $36
Yesterday, March 27, the price of Litecoin was in a bullish trend. The crypto’s price had earlier fallen to the bearish trend zone after testing the $62 resistance level. Yesterday, the bulls broke the 12-day EMA and the 26-day EMA as the price reached the bullish trend zone. The price reached a high of $62.37 and the bulls were resisted.
The price is retracing and can possibly fall below the EMAs. On the upside, if the price is sustained above the EMAs, the bulls will break the $62 price level. On the downside, the crypto’s price will fall if the bulls fail to break the EMAs. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is above the EMAs which indicate that price is in the bullish trend zone.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the price of Litecoin is in the bullish trend zone. The crypto’s price is making a series of higher highs and higher lows. The crypto’s price is trending above the 12-day EMA. On March 27, the bulls reached a high of $62.37 and price retraced and fell below the EMAs.
On the downside, if the bearish trend continues, the crypto’s price will fall and find support at the $58 price level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The LTC price is above the EMAs which indicate that price is in the bullish trend zone.
Source: bitcoinexchangeguide.com