Litecoin (LTC) Price Analysis – July 12

Azeez Mustapha
  • The digital currency is likely to further depreciate to the low of $73.
  • The MACD line and the signal line are below the zero line which indicates a sell signal.

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

LTCUSD Medium-term Trend: Bearish

Resistance Levels: $79, $81, $83

Support Levels: $75, $73, $71

Yesterday, July 11, the price of Litecoin was in a bearish trend. The price of Litecoin has been in a smooth downward trend. The price fell from the lower highs of $83.02 and closed at a price of $76.43 on June 11.

The MACD line and the signal line are below the zero line which indicates a sell signal. Also, the 12-day EMA and the 26-day EMA are above the price bars of Litecoin which indicates that the bearish trend is ongoing. Price will continue to fall as long as the exponential moving averages are above the price bars of the cryptocurrencies.

LTCUSD Short-term Trend: Bearish 

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

On the 4-hour chart, the price of Litecoin is in a downward trend. The price of Litecoin was initially in a range bound movement before it fell to the low $75.08. Later it made a bullish movement which was short lived. Meanwhile, the relative strength index period 14 is level 43 which indicates that the price of Litecoin is in the range bound zone.

 

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