LTC/USD Medium-term Trend: Ranging

Resistance Levels: $62, $63, $64
Support Levels: $58, $57, $56

Last week the price of Litecoin was in a bearish trend. In the downward trend, the price fell from the high of $74.29 to the low of $55.80 and made a partial bullish movement. Today, the LTC price is in a sideways trend at a price of $59.23 as at the time of writing. Price is likely to rise after the sideways trend.

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 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 45 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 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 at par with  the zero line which indicates a neutral 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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