Litecoin (LTC) Technical Analysis July 20th

LTC/USD Long-term Trend: Ranging

Supply Zone: $85, $95, $105
Demand Zone: $80. $70, $60

The LTC/USD pair had been in a sideways trend in the month of July 2018. The cryptocurrency was range bound between the level of $90 and $74. On July 1, the price of Litecoin was $79.13 and the bulls took price to the high of $89.67. Later, the bears brought price to the low of $74.20. This has been the scenario in the month of July 2018. Presently, the price of Litecoin is currently trading at $83.83 as at the time of writing.

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price bars of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that the price of Litecoin is falling. Nevertheless, the relative strength index period 14 is level 41 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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