• LTCUSD is facing an increase in selling pressure and it could continue to slide if it breaks $68.
• Overall, bears seem to be in control.
LTC/USD Medium-term Trend: Bullish
• Resistance Levels : $80, $90, $100
• Support Levels: $35, $25, $15
The crypto looks bullish in its medium-term structure. The bears manage to push the price down to $69.30 in the support area as the low during the yesterday session as the journey down south began.
A bearish candle at $70.92 in the support area with its wick touching the support trend line opens today’s market.
Price drops further to $68.31 in the support area. LTCUSD is initially down at $66.61.
With a price above the two EMAs suggests the momentum in price of Litecoin is in an uptrend and the stochastic oscillator signal pointing down at around level 30% in the oversold region indicates a downward momentum in price of the crypto also there the coin may encounter a change in trend in the days ahead within the range in the medium-term.
LTC/USD Short-term Trend: Bearish
The crypto remains bearish in the short-term perspective. On the 4-hour chart, the LTCUSD price is now in a bearish trend zone. The crypto’s price is now facing another support at the $66 price level. The bears had made two attempts to break it but failed.
Today, the bears are making the third attempt at the support level to break it. The bears are still trading at the sell zone at $68.75 in the support area.
Litecoin further drops to $66.61 in the support area within the range in the short-term.
With price below the two EMAs implies that the coin is in a downtrend and the stochastic signal pointing downwards at level 8% in the oversold region indicates a change in trend may likely occur in the price of Litecoin in nearby days in its short-term.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.