LTC/USD Medium-term Trend: Bearish

Resistance Levels: $58, $59, $60
Support Levels: $54, $53, $52

The LTC price was in a sideways trend yesterday and price fell to the low of $55.80. It was assumed that the cryptocurrency might fall again to its previous low at $40.10, if the downward trend continued. Meanwhile in the sideways trend price rose to the high of $60.15 and later fell to the low of $56.23.

Today, the LTC price has fallen to the low of $51.74 and it might reach the support level at $50. From the chart, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The Relative Strength Index period 14 is level 23 which indicates that the market is oversold suggesting bulls to take control of the market.

From the 1-hour chart, the LTC price is in a downward trend. The price fell to the low of $50.44 are retracted to the high of $ 51.73. However, LTC price is below the 12-day EMA and 26-day EMA which indicates that the price is falling. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell 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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