Litecoin (LTC) Price Analysis – October 10

Azeez Mustapha
  • The price at $57 has become a strong support for the cryptocurrency.
  • The LTC  price now fluctuates above the $57 price level.

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

LTCUSD Medium-term Trend: Ranging

Resistance Levels: $63, $65, $67                                                                                                                       

Support Levels: $55, $53, $51              

The price of Litecoin had been bearish in the last 24 hours. The cryptocurrency is still in a downward trend approaching the price at $58.  However, the price of Litecoin is not likely to fall below the $57 price level. The price at $57 has become a strong support for the cryptocurrency. On October 3, the bulls had been resisted on three occasions at the $57 price level.  The LTC price now ranges above the $57 price level. 

The current bearish trend may likely terminate at the $57 price level. Nevertheless, the LTC price is neither below nor above the 12-day EMA and the 26-day EMA which indicates that price is in the sideways trend zone. The MACD line and Signal line are at par with the zero line which indicates a neutral signal.

LTCUSD Short-term Trend: Ranging    

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View    

On the 4-hour chart, the LTC price is in a range bound movement. The  LTC price fell to its previous low at $ 57 and commenced a bullish movement. The Relative Strength Index period 14 is level 47 which indicates that the price is in a sideways trend zone.

 

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