LTC/USD Medium-term Trend: Bearish
Resistance: $100, $102, $104
Support:$96, $94, $92
Yesterday, June 12, the price of Litecoin is said to be one of the most stable cryptocurrency as there was no price movement. However, the asset has fallen below the $100 price level. This will be the first in six months price will be breaking below the $100 price level. Yesterday, the MACD line and the signal line indicated a sell signal and that the bearish trend was ongoing.
Today, the MACD line and the signal line are below the zero line indicating 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. However, if the bearish trend continued the asset might fall to its previous low at $77. Meanwhile, the relative strength index period 14 is level 25 indicates that the market is oversold suggesting bulls to take control of the market. Traders should look for buy setups as the asset makes its final slide down.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, price of Litecoin is in a bearish trend. Price of Litecoin is still a sell order because of the 12-day EMA and the 26-day EMA that are above the price bars of Litecoin.
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