LTC/USD Medium-term Trend: Bearish

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

Yesterday, July 12, the price of Litecoin was in a downward trend. The Litecoin price closed at a price of $75.53. Today, cryptocurrency is in a bullish movement and currently trading at $77.40. The bulls may face resistance at the $80 price level because it is a resistance level. If price breaks that level, the trend may change direction.
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 45 which indicates that price is in the sideways trend zone.

LTC/USD Short-term Trend: Bullish

On the 1-hour chart, the price of Litecoin is in a bullish trend. The price bars of Litecoin is above the 12-day EMA and the 26-day EMA indicating that the bullish trend is ongoing. The MACD line and the signal line are almost at par with the zero line.
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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