Litecoin (LTC) Technical Analysis July 13th, Charlie Lee Isn't Worried

LTC/USD Long-term Trend: Bearish

Supply Zone: $85, $90, $100
Demand Zone: $75. $70, $65

The LTCUSD pair had been on a downward trend in the month of June 2018. At the end of June, the cryptocurrency closed at a price of $79.54. In the month of July, the price of Litecoin has been fluctuating at the supply and demand levels. On July 13, the bulls took price to the high of $88.82 but the bears gradually brought price to the current market price of $81.73.

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 the 26-day EMA are above the price bars of the cryptocurrency which indicates that the bearish pressure will continue. Nevertheless, the relative strength index period 14 is level 40 which indicates that the price of Litecoin is in the sideways trend zone.

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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