Litecoin (LTC) Price Analysis – August 10

Azeez Mustapha
  • Litecoin's price is below the EMAs which indicates a bearish trend is ongoing. 
  • While the market’s direction isn’t known, no trades are recommended.

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

LTCUSD Medium-term Trend: Bearish

Resistance Levels: $63, $64, $65                                                                                                                           

Support Levels: $60, $59, $58

Yesterday, August 9th, Litecoin’s price was in a bearish trend. It was assumed that if the bearish pressure continued, the cryptocurrency would fall to the lows of $52 and $57. Yet, the cryptocurrency closed at $63.61. Today, LTC is in a range bound movement. Its price will be fluctuating around $62.02, waiting for another breakout.

While the market’s direction isn’t known, no trades are recommended. However, the MACD and signal lines are below the zero line which indicates a sell signal. Also, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing.

LTCUSD Short-term Trend: Bearish   

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

On the 4-hour chart, LTC is in a bearish trend. Its price is still below the 12-day EMA and the 26-day EMA which indicates a bearish trend is ongoing. Meanwhile, the Relative Strength Index period 14 is level 31 which indicates the market is oversold, suggesting the bulls may take over.

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