Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

Litecoin Price Medium-term Trend: Ranging

Resistance Levels: $85, $87, $91                                                                                                                           

Support Levels: $83, $81, $79   

Last week, the LTCUSD pair was in a downward trend. Last week the bulls took price to the high of $89.06 and later price had a pullback to the low of $81.93 on July 20. The cryptocurrency is now in a range bound movement. Nevertheless, 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 moving horizontally along with the price of Litecoin indicating that price is in a range bound movement.

Litecoin Price Short-term Trend: Ranging  

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View
On the 4-hour chart, the price of Litecoin is in a range bound movement. The 12-day EMA and the 26-day EMA  are neither above nor below the price of Litecoin which indicate that price is in a range bound movement. Meanwhile, the relative strength index period 14 is level 50 which indicates that price is in the range bound zone.

The price of Litecoin is in the previous range bound zone of $85 and $75. If the price fails to break the $85 price level, traders can initiate short trades.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.