LTCUSD Medium-term Trend: Bullish
Resistance Levels: $65, $67, $69
Support Levels: $50, $48, $46
Yesterday, the price of Litecoin was in a bearish trend. On November 4, the bulls reached the high of $56.36 and were resisted. The cryptocurrency faced resistance at the price of $55. If the bulls clear the resistance at $55, the price of Litecoin will reach the upper level of price range. LTC is presently range bound between the levels of $50 and $65.
Meanwhile, crypto's price is above the 12-day EMA and the 26-day EMA which indicates that the price is in the bullish trend zone. The Stochastic is in range of 60 and approaching 80. It indicates a buy signal and the momentum of price is increasing on the upside.
LTCUSD Short-term Trend: Bullish
On the short term trend, the price of Litecoin is in a bullish trend. On November 5, a bearish candlestick was resisted at the price of $55.11 and it fell to a range bound movement. The $55 price level is likely to be broken. The Relative Strength Index period 14 is level 70 which indicates that the price is in the bullish trend zone.
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