Resistance Levels: $66, $68, $70
Support Levels: $50, $48, $46

Yesterday, November 6, the price of Litecoin was in a sideways trend. The crypto’s price was  ranging above the $53 price level after the resistance at the $55 price level. However, the crypto’s price made a second attempt at the $55 price level and it was broken. Today, the digital currency reached the upper price level and it was repelled.

The price of Litecoin was previously range bound between the levels of $50 and $65. Traders are to exit their long trades as the crypto failed to resume its uptrend. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of Litecoin is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone.

On the 1-hour chart, LTC price is in a sideways trend. Price is below the 12-day EMA  and the 26-day EMA indicating that price is approaching the bearish trend zone. The MACD line and the signal line are above the zero line which indicates a buy 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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