Last week, the price of Litecoin was ranging above the $33 price level. On February 8, the bulls broke the EMAs as the price reached a high of $43.81. The bulls continued its bullish movement and reached a high of $47.60. The crypto’s price is retracing as it faced resistance at the $48 price level.

The LTC price is above the EMAs and has the tendency to rise if the price is sustained above the EMAs and the resistance level of $48 is broken. The LTC price is expected to reach a high of $55. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is above the EMAs which indicate that price is in the bullish trend zone.

On the 1-hour chart, the price of Litecoin is in the be trearishnd zone. The crypto’s price reached a high of $44.56 and began fluctuating above the 12-day EMA and 26-day EMA. The LTC price reached a high of $48.10 and was resisted. The bears have broken the EMAs and the crypto’s price is now in the bearish trend zone.

If the crypto’s price remains in the bearish trend zone, the LTC price is likely to fall. On the other hand, if the bulls break the EMAs and reach the bullish trend zone, the bulls will retest the $48 price level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, 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.

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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