LTC/USD Medium-term Trend: Bearish
Resistance Levels: $66, $68, $70
Support Levels: $30, $28, $26
Yesterday, February 5, the price of Litecoin was in a bearish trend. The crypto's price has been trading above the EMAs in the last three days. The bulls have made three attempts to break the resistance at $34 price level but without success. Yesterday, the bears broke below the EMAs and brought the price to the low of $33.18.
The price of Litecoin is now within the range-bound levels of $30 and $35. On the downside, if the bearish trend continues, the crypto will find support at $30 price level. Meanwhile, the MACD line and the signal line are below the zero line which indicate a sell signal. Also, the crypto’s price is below the EMAs which indicate that price is in the bearish trend zone.
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