LTC/USD Medium-term Trend: Ranging
Resistance Levels: $85, $87, $89
Support Levels: $82, $80, $78
Last week price of Litecoin was already in a sideways trend fluctuating between the levels of $90 and $74. The LTC price made two attempts to break the support level of the range bound zone but without success. Again, the price also made an attempt to break the resistance level but was resisted. Today, the price of Litecoin will continue its range bound movement.
Meanwhile, the MACD line and the signal line are at par with the zero line which indicates a neutral signal. Also, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that the Litecoin price is falling. The Relative Strength Index period 14 is 45 which indicates that price is in the sideways trend.
LTC/USD Short-term Trend: Ranging
On 1-hour chart, the price of Litecoin had been in a sideways trend. At first, LTC price was fluctuating at a price of $87 horizontally. Later the price fell to the low of $83 and resumed its range bound movement. Meanwhile, the MACD line and the signal line are at par with the zero line which indicates a neutral signal.
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