Litecoin Price Analysis – July 3

Azeez Mustapha
  • The MACD and the signal lines are below the zero line - indicating a sell signal.
  • The bears overturned the bullish movement of the bulls as tbe price fell to its previous low.

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by TradingView

LTCUSD Medium-term Trend: Bearish

Resistance Levels: $85, $87, $89

Support Levels: $89, $87, $85

Yesterday, the price of Litecoin was in a downward trend. Today, the cryptoasset made a bullish movement to the high of $88.71 but the bears brought the price to the previous low of yesterday at $85.59. The bears seem to still be in control of the price of Litecoin. Also, the exponential moving averages are trending southward.

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. From the chart, the bullish trend commenced its bullish movement with a large green candlestick at a price of $73.99 to the high of $88.69. However, the price has retraced to the level of $86.78.

Meanwhile, the relative strength index period 14 is level 60 which indicates that the price is in the bullish trend zone. Traders are to look out for buy setups in anticipation of a bullish trend.

 

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