Operating in Bitcoin's Shadow, Does Litecoin (LTC) Have Future in the Crypto Altcoin Market?

LTC/USD Medium-term Trend: Bearish

Resistance Levels: $66, $68, $70
Support Levels: $25, $23, $21

Yesterday, December 6, the price of Litecoin was in a bearish trend. Yesterday, the LTC price was making a bullish movement after the previous day's bearish trend. The crypto's price was resisted by the 12-day EMA and it fell to the low of $28.43. Today, the LTC price was resisted again by the 12-day EMA and price is approaching the low of $25.95.

Meanwhile, the price of Litecoin is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.

LTC/USD Short-term Trend: Bearish

On the 1-hour chart, the crypto's price is in a bearish trend. On December 6, the bulls pulled back from the bearish trend and broke the 12-day EMA and the 26-day EMA and remained above it. The bears took control of the price and break the EMAs to the downside.

Today, the crypto's price falls when resisted by the 12-day EMA and price is approaching the low of $25.95.Meanwhile, from the 1-hour chart, the crypto's price is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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