LTC/USD Medium-term Trend: Bearish
Resistance Levels: $82, $84, $86
Support Levels:$78, $76, $74
Price of Litecoin was in a bearish trend all through last week. The cryptoasset traded last week at a price of $ 95.80 then fell to the low of $ 82.53. The 12-day EMA and the 26-day EMA are trending southward indicating the bearish outlook. Meanwhile, 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 which indicates that the bearish trend is ongoing. Nevertheless, the relative strength index period 14 is level 38 which indicates that the cryptoasset is nearing the oversold condition of the market; suggesting the bulls to take control of the market.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the cryptoasset is in a bullish trend. The bulls took control of the market as price fell to its low at $ 79.19. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the price bars 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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