Litecoin (LTC) Price Analysis – September 12

Azeez Mustapha
  •  Price of Litecoin will find support at the $45 price level if price breaks the $50 price level.
  • Traders will to look out for buy setups and allow the bearish pressure to end before initiating any trade.

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

LTCUSD Medium-term Trend: Bearish

Resistance Levels: $50, $52, $54                                                                                                                          

Support Levels: $46, $44, $42

Yesterday, the price of Litecoin was in a downward trend. Litecoin has fallen out of the range bound zone between $50 and $60, the next support level that is currently being tested is $46. However the 12-day EMA and 26-day EMA which indicates that a bearish trend is continuing. Also the MACD line and Signal line are below the zero line which indicates a sell signal.

LTCUSD Short-term Trend: Bearish 

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

On the 4-hour chart, the LTC price is in a bearish trend. Price of Litecoin is below the 12-day EMA and 26-day EMA which indicates that price is falling. Meanwhile, the Relative Strength Index period 14 is level 28 which indicates that the market is oversold suggesting bulls to take control of the market.

 

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