LTCUSD Medium-term Trend: Ranging
Resistance Levels: $82, $84, $87
Support Levels: $78, $76, $74
Last week, the Litecoin price was on a downward trend. The cryptoasset’s closing price was $95.70 on Monday 18, but fell to $82.53. This is about 13.76% price depreciation. However, the price may likely fall to as low as $66. Meanwhile, the cryptoasset is now on a range-bound movement at $80.
Today, the MACD line and the signal line are neither above nor below the zero line which indicates a neutral signal. In addition, the price bars of the cryptoasset are neither above nor below the 12-day EMA and the 26-day EMA which indicates that Litecoin is in a range-bound movement.
LTCUSD Short-term Trend: Ranging
The daily chart shows that the price rose from $74 to $80 and started a range-bound movement. The 20-day SMA and 50-day SMA are also trending horizontally. Meanwhile, the relative strength index period 14 is level 32 which indicates that the market is oversold, suggesting that the bulls will take control of the market.
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