Litecoin Price Analysis – June 8

Azeez Mustapha
  • The MACD line and the signal line are deep below the zero line, indicating a sell signal for the asset.
  • The Litecoin price is likely to fall to the previous low of $117.

Litecoin, LTCUSD, CryptoCompare chart

LTCUSD Medium-term Trend: Bearish

Resistance: $119, $120, $121

Support: $117, $116, $115

Yesterday, the Litecoin price was in a bullish trend. The bulls had been able to sustain the asset price above the $120 price level. Meanwhile, the MACD line and the signal line were above the zero line indicating a buy signal for the asset. The symbol of the histogram had turned from negative to positive because the asset was in a bullish trend.

The asset was trading at $118.68 at the time of writing. Today, the Litecoin price is in a bearish trend. The bulls no longer sustain the price above the $120 level. If the bearish trend continues, the asset price is likely to fall to the previous low of $117. Meanwhile, the MACD line and the signal line are below the zero line indicating a sell signal for the asset.

The 12-day EMA and 26-day EMA are above the price of Litecoin indicating that the bearish trend is ongoing.

LTCUSD Short-term Trend: Bearish

Litecoin, LTCUSD, CryptoCompare chart

The daily chart shows the Litecoin price in a bearish trend. The price fell from $121.50 to $118.50. The MACD line and the signal line are deep below the zero line, indicating a sell signal.

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