Litecoin Chart by Trading View
LTCUSD Medium-term Trend: Bearish
Resistance Levels: $67, $69, $71
Support Levels: $63, $61, $59
The LTCUSD pair was out of the range-bound levels of $91 and $74. It was suggested that if the bears broke the support level at $74, the price of Litecoin would find support at either $57 and $52.Yesterday, the bears took price to the low of $67.26: the price of $67.26 was the previous low of November 17, 2017.
Nevertheless, traders should look out for buy setups to initiate long trades at the end of the bearish pressure. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing.
LTCUSD Short-term Trend: Bearish
Litecoin Chart by Trading View
On the 4-hour chart, the LTC price had already broken the $74 price level in the bearish trend before the bears took price to the low of $65.24. Meanwhile, the Relative Strength Index period 14 is level 22 which indicates that the market is oversold suggesting bulls might take control of the market.
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