LTC Creator Charlie Lee Says Litecoin Can Help Bitcoin's Lightning Network Onboarding

LTC/USD Medium-term Trend:Bearish

Resistance Levels: $75, $76, $77
Support Levels: $70, $69, $68

Yesterday, August 6th, the price of Litecoin was in a bearish trend which resulted in the  breaking of the range-bound zone. Later, price pulled back into the range bound zone. However, the cryptocurrency was making another attempt to retest the support level. Today, the LTC price has retested  the support level and it is now in a sideways trend at a price of $0.43.

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicate that the bearish trend is ongoing. The relative strength index period 14 is level 40 which indicates that price is in the sideways trend zone.

LTC/USD Short-term Trend:Ranging

On the 1-hour chart, the price of Litecoin is in a sideways trend. The price of Litecoin is neither above nor below the 12-day EMA and the 26-day EMA which indicate that price is a sideways trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.

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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