LTCUSD Medium-term Trend: Ranging
Resistance Levels: $59, $60, $61
Support Levels: $54, $53, $52
The price of Litecoin was range-bound. The LTC price is still fluctuating between the levels of $60 and $50. Today, the cryptocurrency is likely to continue with its fluctuations. In the interim, traders can trade the key levels of the market as the market ranges. The price is currently retracing at the resistance level but moving in a horizontal pattern.
The price of Litecoin is not evenly apart between the resistance level and the support level. From the chart, the MACD line and the signal line 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 the price was previously falling.
LTCUSD Short-term Trend: Ranging
On the 4-hour chart, the LTC price is range bound. The price of Litecoin is trading horizontally at a price of $56. The Relative Strength Index period 14 is level 44 which indicates that the price is in the range-bound trend zone.
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