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LTC/USD Medium-term Trend: Ranging

Resistance: $118 , $120, $130
Support: $116, $114, $112
Yesterday, the LTCUSD pair was in a bullish market. According to the MACD indicator, the MACD line and the signal line were above the zero line indicating a buy signal. From the 4-hour chart, price of Litecoin was above the 12-day EMA and 26-day EMA indicating that the  bullish trend was ongoing. However, Litecoin is presently trading at $116.67 as at the time of writing.

From the 4-hour chart, price of the asset is ranging. However, the MACD line and the signal line are above the zero line indicating a buy signal. Nevertheless, if price of Litecoin falls and breaks the level at $114.55, the asset will nosedive to the low of $109. And, if the level holds and price breaks the resistance  at the rectangular block then the asset will reach the high of $130. Traders are expected to initiate long positions if price level holds.

LTC/USD Short-term Trend: Bearish

On the 1-hour chart, price of Litecoin is in a bearish market. The MACD line and the signal line are below the zero line indicating a sell signal. The 12-day EMA and 26-day EMA are above the price of the asset indicating that the bearish trend is ongoing.

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

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