LTC/USD Long-term Trend: Bearish
Supply Zones: $100, $105, $110
Demand Zones: $90. $85, $80
The price of Litecoin is in a bearish trend. The asset had a similar behavior with other cryptocurrencies. Price of Litecoin was trading at $125.43 at the beginning of June 2018. But it fell to its low at $95.77 as at the time of writing. Traders should look for buy setups at the support level of $90 to initiate long trades, if the bearish pressure is over. Price of the asset is currently trading at above the $95 price level.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the 12-day EMA and the 26-day EMA are neither above nor below the price of the asset. Incidentally, this is a neutral signal. What we expect from the MACD indicator is whether the bearish trend or bullish trend will continue. The relative strength index period 14 is level 41 indicates that price of the asset is in the sideways 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.