LTCUSD Medium-term Trend: Ranging
Resistance Levels: $101, $102, $103
Support Levels: $99, $98, $97
Yesterday, June 20, the Litecoin price traded and closed at $97.60 after its range-bound movement. The closing prices for the last two days were $97.44 and $97.60.This represents about $0.16 % price increase. The issue is that the price is notorious for a range-bound movement. The market has been quiet and the price increase is insignificant.
Nevertheless, if price of Litecoin falls it will find support at the low of $90. But if that level holds, traders should look out for buy setup at that level in anticipation of a bullish breakout. Meanwhile, the MACD line and the signal line are neither below nor above the zero line which indicates a neutral signal.
In addition, the price of Litecoin is neither above nor below the 12-day EMA and the 26-day EMA which indicates that the market is ranging.
LTCUSD Short-term Trend: Ranging
The daily chart shows that the Litecoin price is in a range-bound movement. The market has no direction. The cryptoasset was ranging and bearish in its moving pattern. Traders should avoid a market with a choppy price action.
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