Cryptocurrency User Sends $62 Million in Litecoin (LTC) Paying $0.5 Dollars in Fees

LTC/USD Medium-term Trend: Bearish

  • Resistance Levels: $66, $68, $70
  • Support Levels: $30, $28, $26

Yesterday, January 10, the price of Litecoin was in a bullish trend. The price of Litecoin had been hovering above the 12-day EMA and the 26-day EMA because of its inability to break above the $40 price level. It was earlier assumed that if the bears broke below the EMAs the crypto would find support at $32.

Today the crypto has fallen to the $34 price level and it is likely to fall again because the price is in the bearish trend zone. Meanwhile, the stochastic is in the oversold region but below the 20% range indicating that the price of Litecoin is in a strong bearish momentum and a sell signal. 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 price of Litecoin is in a bearish trend zone. From the chart, the crypto’s price fell to the low of $33 price level and commenced a range bound movement above it. Meanwhile, the stochastic is out of the overbought region but above the 20 % range which indicates that the crypto is in bullish momentum and a buy signal. 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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