Litecoin Price Analysis – July 2

Azeez Mustapha
  • Litecoin depreciated about 0.89% continuing last week's downward trend.
  • The relative strength index period 14 is level 67 which indicates that the price is in a bullish trend.

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by TradingView

LTCUSD Medium-term Trend: Bearish

Resistance Levels: $87, $89, $91

Support Levels: $83, $81, $79

Last week the price of Litecoin was in a bearish trend. The cryptoasset traded with a closing price of $80.26 on June 25th, and the bulls held on to that price level with another closing price of $79.54 on June 30th. The price of Litecoin depreciated to about 0.89% - continuing last week's trend. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

From the chart, the 26-day EMA is above the price bars of Litecoin which indicates that the bearish trend is continuing.

LTCUSD Short-term Trend: Bullish

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by TradingView

On the 4-hour chart, the price of Litecoin is in a bullish trend. The price bar of Litecoin is above the 12-day EMA and 26-day EMA which indicates that the bullish trend is continuing. Meanwhile, the relative strength index period 14 is level 67 which indicates that the price is in the bullish trend zone. Traders should look out for buy setups in anticipation of a bullish trend.

 

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