Resistance Levels: $60, $62, $64
Support Levels: $56, 54, $52

Yesterday, September 26, the LTCUSD pair was in a bullish trend. On September 5, the price of Litecoin had been range bound between the levels of $50 and $60. In the bullish trend, the LTC price tested the upper level of price range and was repelled. On September 26, the price reached the high of $59.01 and was resisted. It is making another attempt to reach the upper level of price range.

If the digital currency breaks the $60 price level, the LTC price will be out of the range-bound zone. However, if it is resisted again, traders should initiate short trades and exit near the support zone. 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 likely to rise. The Relative Strength Index period 14 is level 53 which indicates that price is in the sideways trend zone.

On the 1-hour chart, the LTC price is in a bullish trend. The price of Litecoin is falling after the resistance at $59.79. The price 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 a 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.

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