Litecoin (LTC) Price Analysis – August 9

Azeez Mustapha
  • The LTC price is likely to fall to the lows of either $57 or $52.
  • The RSI period 14 is level 19 which indicates that the market is oversold.

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 8th, the LTC price was in a bearish trend. The bears took the price from the high of $74 to the low of $67.26. Today, the cryptocurrency is trading at $61.17 as at the time of writing. It could be a fact that the fall of one cryptocurrency would influence the others. Then LTC price will not be an exception. In view of the indicators, the LTC price is likely to fall to the lows of either $57 or $52.

Nevertheless, 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 bearish trend is ongoing. 

LTCUSD Short-term Trend: Bearish  

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

On the 4-hour chart, the LTC price is in a downtrend trend. The price is falling because it is below the 12-day EMA and the 26-day EMA. The Relative Strength Index period 14 is level 19 which indicates that the market is oversold suggesting bulls might take control of the market.

 

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