LTC/USD Medium-term Trend: Bullish
Resistance Levels: $91, $93, $95
Support Levels: $85, $83, $81
Yesterday, July 24th, the price of Litecoin was in a bullish trend. The cryptocurrency was in a downward trend the previous day but fell to the low of $80.83. Traders would have made partial profits if they had initiated long trades at the previous low of the digital asset. Price of Litecoin has made a bullish movement to the high of $89.22 as at the time of writing.
Meanwhile, the MACD line and the signal line are neither below nor above the zero line which indicates a neutral signal. Also, the price of Litecoin is above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing. The Relative Rtrength Index period 14 is 66 which indicates that price is in the bullish trend zone.
LTC/USD Short-term Trend: Bullish
On 1-hour chart, the price of Litecoin was in a bullish trend. Today the cryptocurrency is out of the range-bound zone as the digital asset breaks through the $85 price level. On the 1-hour chart, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of Litecoin is above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing.
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