LTC/USD Medium-term Trend: Bullish
Resistance Levels: $70, $80, $90
Support Levels: $60, $50, $40
Last week the price of Litecoin was in a sideways trend. There was no significant price movement as the market was quiet. On August 29, the cryptocurrency reached the upper level of price range and was resisted at a price of $63.46. The price fell to the low of $58.65 and commenced another bullish movement to the high of $67.81. Today, the LTC price is out of the range-bound zone of $60 and $50.
Presently, the LTC price has retraced from its recent high to a range bound movement. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of Litecoin is above the 12-day EMA and the 26-day EMA which indicates that a bullish trend is ongoing. The Relative Strength Index period 14 is level 56 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 sideways trend. The price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal.
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