Litecoin (LTC) Price Analysis – July 17

Azeez Mustapha
  • The price of Litecoin is range-bound between the levels of $85 and $75.   
  • The RSI period 14 is level 61 which indicates that the price of Litecoin is in the bullish trend bound zone.

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

LTCUSD Medium-term Trend:  Bearish

Resistance Levels: $83, $85, $87                                                                                                                           

Support Levels: $80, $78, $76

Yesterday, July 16th, the price of  Litecoin was in a bullish trend following a sideways trend. The price of Litecoin is also range-bound between the levels of $85 and $75. 

Traders should use the range-bound strategy to trade these digital currencies. Meanwhile, 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. 

LTCUSD Short-term Trend: Bullish 

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

On the 4-hour chart, the price of Litecoin is in a bullish trend. The price of Litecoin is above the exponential moving averages as the bulls took the price to the high of $85 where they were resisted. Meanwhile, the relative strength index period 14 is level 61 which indicates that the price of Litecoin is in the bullish trend-bound zone.

 

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