LTC/USD Medium-term Trend: Ranging
Resistance Levels: $60, $65, $70
Support Levels: $50, 45, $40
Yesterday, September 13, the price of Litecoin was in a bullish trend. Yesterday, it was suggested that if the $50 price level holds we should initiate a long trade. The $50 price level is holding and the price is expected to reach the high of $60. The cryptocurrency is range bound if the price reaches the upper level and bounces back, the long trades should be exited.
On the other hand, the trades should be left open if the price breaks the upper level. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of Litecoin is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone. The Relative Strength Index period 14 is level 55 which indicates that price is in the sideways trend zone.
LTC/USD Short-term: Ranging
On the 1-hour chart, the LTC price is in a bullish trend. The price of the cryptocurrency is above the 12-day EMA and the 26-day EMA which indicates that a bullish trend is ongoing. The MACD line and the signal line are above the zero line which indicates an buy signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.