LTC/USD Medium-term Trend: Ranging

Resistance Levels: $100, $102, $104
Support Levels:$96, $94, $92

Yesterday, June 18, the price of Litecoin had a bullish movement. The asset rose to the high of $100 and was resisted by the bears. The price of Litecoin touched the upper band of the Bollinger bands and it fell. The asset fell back to its range bound zone. The range-bound zone was created since June 13 when the asset fell to the low of $90. The asset ranges between the levels of $90 and $100.

Meanwhile, the MACD line and the signal  line are neither above nor below the zero line indicating a neutral signal. Also, the 12-day EMA and 26-day EMA  are  neither above nor below the price of the asset indicating a neutral signal. The relative strength index period 14 is level 51 indicates that price is in the range bound zone.

LTC/USD Short-term Trend: Bullish

On the 1-hour chart, the price of Litecoin is in a bullish trend. From the chart, the MACD line and the signal line are above the zero line indicating a buy signal. Also, price of the asset is above the 12-day EMA and the 26-day EMA indicating that the bullish trend is ongoing.

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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