LTCUSD Medium-term Trend: Bearish
Resistance Levels: $85, $87, $89
Support Levels: $83, $81, $79
Yesterday, June 22, the LTCUSD pair was in a range bound market. The cryptoasset traded in a ranging market at a closed price of $96.28. Price of Litecoin has moved away from its range bound levels of $100 and $90. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
Similarly, the 12-day EMA and the 26-day EMA are above the price of Litecoin which indicates that the bearish trend is continuing.The price at $85 is the lowest since the beginning of this year. However, if the cryptoasset depreciates further the demand levels would be breached.
LTCUSD Short-term Trend: Ranging
On the daily chart, price of Litecoin is in a range bound movement. The cryptoasset was ranged bound at the price of $96. Later, price of Litecoin fell to a smooth downtrend at a price of $84. Meanwhile, the relative strength index period 14 is level 48 which indicates that price of Litecoin is in the range bound zone.
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