LTC/USD Long-term Trend: Bullish Resistance Levels: $60, $70, $80 Support levels: $40, $30, $20

On January 10, the LTC/USD pair was in the bearish trend zone. The bears broke the 12-day EMA, the 26-day EMA and price fell to the low of $34.01. The crypto's price further depreciated to the low of $30.51 and commenced a range bound movement. The LTC price had been range bound between the levels of $30 and $35 before the price breakout. The 12-day EMA and the 26-day EMA are horizontal indicating the range bound movement. On February 8, the bulls break the EMAs and the resistance level at $35 to reach the bullish trend zone. The crypto's price is likely to rise because it is above the EMAs.

The LTC price is trading at $43.24 as at the time of writing. The crypto is expected to reach the highs of $60 and $65 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 above the 12-day EMA and the 26-day EMA which indicates that the crypto is in the bullish 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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