Litecoin Price Medium-term Trend: Ranging
Resistance Levels: $90, $91, $92
Support Levels: $87, $86, $85
LTC price is still range bound at the $89 and $74 price levels. The bulls made some efforts to break out of the range-bound zone. On July 24th, the bulls took price to the high of $89.48 and were resisted by the bears and price is currently retracing. In a ranging market, traders should place trades the key levels of the range bound zone so as to earn partials profits. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.
Also, the 12-day EMA and the 26-day EMA are neither above nor below the price of Litecoin indicating that price is in a range bound zone.
Litecoin Price Short-term Trend: Ranging
On the 4-hour chart, the price of Litecoin is still in a range bound movement.The RSI period 14 is level 54 which indicates that price is in the sideways trend zone. The cryptocurrency is likely to continue its range bound movement until it reaches the bullish trend zone.
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