LTC Creator Charlie Lee Says Litecoin Can Help Bitcoin's Lightning Network Onboarding

LTC/USD Medium-term Trend: Ranging

Resistance Levels: $78, $80, $82
Support levels: $74, $72, $70

The price of Litecoin is in a sideways trend in the month of July. The LTC price was range bound between the levels of $91 and $74. The cryptocurrency commenced trading at a price of $79.13 at the beginning of the month. It ranges from the high of $79.13 to the low of $74.20. Then price moves again to the high of $90 and back to $81.48.

This was the scenario created by the price of Litecoin as price fluctuates now and then. It was assumed that if the LTC price broke the support level at $74, price will fall to the low of $57. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price bars of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing.

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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