Posted In: Forex Trading Posted On: 2018/12/27 12:16 PM Posted By: ituglobal
LTC/USD Medium-term Trend: Ranging
Yesterday, December 26, the price of Litecoin was in a sideways trend. In the last 24 hours, there had been no significant price movement as price ranges above the $30 price level. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.
As the crypto ranges above the $30 price level, there is the likelihood of a price breakout. If the crypto’s price breaks below the $30 price level, the price of Litecoin will find support at the $24 price level. On the other hand, if price breaks upward, the crypto will reach the high of $37. Meanwhile, the stochastic indicator out of the oversold region above the 20% range which indicates that Litecoin is in a bullish momentum and a buy signal.
On the 1-hour chart, the price of Litecoin is in a bearish trend. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates price is in a bearish trend zone. The crypto has the tendency to fall. Similarly, the stochastic indicator was out of the overbought region and it is below the 20% range which indicates that the crypto is in a bullish momentum and a buy signal.
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