Litecoin (LTC) Price Analysis – July 26

  • Traders are enjoined to trade the key levels of the range bound zone.
  • The bulls had been resisted on two occasions to break the resistance level at $90.

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

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   

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

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.

 

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