LTC/USD Long-term Trend: Bearish

Supply Zones: $90, $100, $110
Demand Zones: $70. $60, $50

The LTC/USD pair had been in a bearish trend since the month of June, 2018. The cryptoasset was valued at $125.43 as at June 3, 2018, but has depreciated to the value of $85.12 as at today, June 23. This means that the price of Litecoin has lost 32.13% of its value. There are indications that price of Litecoin may continue its downward fall to the low of $50.

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 above the price bars of  Litecoin which indicates that the bearish pressure will continue. Nevertheless, the relative strength index period 14 is level 40 which indicates that price of the asset is in the sideways trend zone.

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

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