LTC/USD Medium-term Trend: Bearish

Resistance Levels: $80, $82, $84
Support Levels:$76, $74, $72

Yesterday, June 27, price of Litecoin was in a bearish trend. Today the cryptoasset is still in a downward trend according to the MACD indicator. The MACD line and the signal line are below the zero line which indicates 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 continuing.

Nevertheless, the bears were resisted at the low of $74.24 by the bulls yesterday. If the bears had broken the support level at $74.19, price of Litecoin would have found support at $46.91. The cryptoasset had continued its range bound movement. Nevertheless, the relative strength index period 14 is level 43 which indicates that price of the cryptoasset is still 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. The MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price bars of Litecoin is above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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