LTCUSD Medium-term Trend: Bullish
Resistance Levels: $85, $87, $89
Support Levels: $83, $81, $79
Yesterday, the Litecoin price was in a ranging market at $80. On June 24, the LTCUSD pair fell to $75 and made a pullback to $80. The cryptoasset then started a range-bound movement. There are indications that if the Litecoin price encounters another bearish breakout at $75, the cryptoasset will fall and find support at $67 or $50.
Today, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price bars are above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing.
LTCUSD Short-term Trend: Ranging
The daily chart shows that the cryptoasset is ranging above $80. The 20-day SMA and 50-day SMA are also trending horizontally. At this price level, the cryptoasset will likely encounter another breakout. Meanwhile, the relative strength index period 14 is level 39 which indicates that the market is oversold, suggesting that the bulls will take control of the market.
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