LTC/USD Medium-term Trend: Bullish
Resistance Levels: $91, $93, $95
Support Levels: $85, $83, $81
Yesterday, July 25th, the price of Litecoin was range bound between the levels $90 and $80. As the LTC price fluctuates traders can trade the key levels of the market. For instance, we ought to have initiated a long trade at the support level where price reached the low of $80.83. and a stop loss below the support level. Then you take your partial profits near the resistance zone.
In the same vein, when the price gets to the resistance level you take a short trade and a stop loss above the resistance level. Then you exit your trade near the support level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy 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 strength index period 14 is 57 which indicates that price is in the sideways trend zone.
LTC/USD Short-term Trend: Ranging
On 1-hour chart, the price of Litecoin was in a sideways trend. On the 1-hour chart, the MACD line and the signal line are at par with the zero line which indicates a neutral signal. In addition, the price of Litecoin is neither above nor below the 12-day EMA and the 26-day EMA which indicates that the sideways trend is ongoing.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.