LTC/USD Medium-term Trend: Bearish

Resistance Levels: $78, $80, $82
Support Levels: $74, $72, $70

Yesterday, July 11, the price of Litecoin was in a downward trend. Today, the cryptocurrency is still in a bearish trend after the sideways trend. During the downward pressure, the asset reached the low of $75.08 and later resumed its range bound movement. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

Also, the 12-day EMA and the 26-day EMA are above the price bars of Litecoin indicating that the bearish trend is ongoing.The relative strength index period 14 is level 39 which indicates that the market is oversold suggesting bulls to take control of the market.

LTC/USD Short-term Trend: Ranging

On the 1-hour chart, the price of Litecoin is in a sideways trend. That is the price is said to be moving horizontally. The price bars of Litecoin are trending horizontally while the exponential moving averages are neither above nor below the price of Litecoin. In addition, the MACD line and the signal line are neither below nor above the zero line which indicates a neutral signal.

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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