LTC/USD Medium-term Trend: Bearish
Resistance Levels: $78, $80, $82
Support Levels:$74, $72, $70
Yesterday, June 26, price of Litecoin made a bullish movement to the high of $81.72 when the cryptoasset fell to the low of $74.19. However, the cryptoasset had been on a downward trend since June 22, when price of Litecoin fell to the low of $80. Meanwhile, if the downward trend continued and price breaks the support level at $74.19, then cryptoasset will find support at $46.91.
Nevertheless, the MACD line and the signal are below the zero line which indicates a sell signal. Also, 12-day EMA and the 26-day EMA are above the price bars of Litecoin which indicates that the bearish trend is continuing. Nevertheless, the relative strength index period 14 is level 32 which indicates that the market is oversold suggesting bulls to take control of the market.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the price of Litecoin is in a bearish trend. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the 12-day EMA and 26-day EMA are above the price of Litecoin which indicates that the bearish trend is ongoing.
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