Litecoin, LTCUSD, CryptoCompare chart

LTCUSD Medium-term Trend: Ranging

Resistance: $164, $162, $160

Support: $152, $154, $156

Litecoin Price Key Highlights:

  • Litecoin previous price level of $170
  • Price in a range bound movement.
  • Technical indicator price analysis

Litecoin was in a ranging market yesterday and the RSI period 14 has indicated in the weekly chart that the market was oversold suggested bulls taking control of the market. Also, in the daily chart the RSI period 14 indicated that the market was overbought suggested bears to take control of the market. However, the bulls could not hold on to the price at $170 to push the price  further rather  the bears broke that level and took the price to as low as $158.64.

The price will be oscillating between the resistance at $170 and the support at $140 for now. In a ranging market, neither the bulls nor the bears have control of the market, therefore traders should suspend trading.Meanwhile, the RSI period 14 is level 34 which indicates that the market is oversold suggesting bulls to take control of the market.

LTCUSD Short-term Trend: Bearish

Litecoin, LTCUSD, CryptoCompare chart

In the daily chart, the price of Litecoin has a bearish outlook. The 50-day moving average and 20-day moving average are trending southward. The RSI period 14 is level 54 which indicates that price is in the range bound zone.